Can You AVOID Paying Sales Tax When Buying Watches Online?
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- čas přidán 16. 08. 2024
- We didn't use to have to pay sales tax when buying a watch online! What changed? Can we still avoid it?
States with No Sales Tax
• Montana
• New Hampshire
• Oregon
• Delaware
States with No Economic Nexus (as of May 2020)
• Missouri
• Florida
States with Low Sales Tax
• Alabama (4%)
• Colorado (2.9%)
• Georgia (4%)
• Hawaii (4%)
• Louisiana (4.45%)
• Missouri (4.23%)
• New York (4%)
• North Carolina (4.75%)
• North Dakota (5%)
• Oklahoma (4.5%)
• South Dakota (4.5%)
• Wisconsin (5%)
• Wyoming (4%)
I got my watch from this seller
rover.ebay.com...
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Yeah ebay started charging for State sales tax which in my case is nearly 10% :( I started using Chrono24 more and they don’t collect per say, but always confirm with the individual secondary seller. Most do not or are not obligated because of the sales threshold. Also the sellers on Chrono24 are charged less for final valuation fees and also no PayPal or credit cards so they can theoretically sell for less. You can make lower offers and bargain more readily on C24. Its funny that many seller on C24 are also on ebay lol. I buy just about everything online to get around our high sales tax. Larger well established e-companies like Amazon or ebay have to collect tax but if you shop smaller companies that do not reach the sales thresholds or just don’t bother to collect the tax (for a state they don’t even reside in) then you can get around it. You can almost always find a big ticket item on a smaller company’s website and avoid state sales tax. The volume of watch sales I do and my thin profit margins if I can cut out the state tax it makes all the difference. Luckily most of my buying and selling is direct, person to person. If buying just a few personal watches I’d go to a quality secondary online dealer like Bob’s watches or Bernards etc. They hadn’t started collecting sales tax, last deals I did with them a few months back. Point is there are many online watch dealers that don’t charge sales tax.
yeah i didnt realize until about a week ago how complicated it was. I think this (your comment) is the main take away here as there are still ways to get around it. ty Evan
Great reply - seems like a prudent move to exclude eBay from consideration for buying (due to sales tax) and selling (due to high fees)
Yes it can be a bit complicated with regards to the new ruling, but it’s worth it to get the knowledge needed to minimize your tax obligation, while as you mentioned, staying within the law. I pay more than my fair share on taxes believe me so I want every advantage I can find. The no State sales tax for internet commerce was great while it lasted but it’s gone now and probably is good and more fair to brick/mortar stores. I’m surprised it lasted as long as it did. People are smart and soon figure out ways to save money. I just bought a watch off ebay simply because it was such a good deal. Cost me over $600 in tax but the deal more than made up for it. You make the deal where you get the best price. Sometimes that means paying the tax lol. Anyway good topic
@@SPQR-Z Don't know what you are talking about. There are PLENTY of places still not charging taxes for watches shipped out of state.
I'm in Chicago, so I ship to a fedex store in Indiana to save tax. Saved $1,250 on tax on my last watch purchase :D
I bought a couple of very expensive items in London and had them sent to the US. I paid a substantial amount in customs duties to get them into the US. Then to my great dismay, about six months later I got a bill from the state I live in (CA) with state sales tax on the entire amount! Unbelievable. This added another almost 10% to the purchase price. This transaction had absolutely nothing to do with the state I live in -- this is purely opportunistic taxation. Bottom line: states (especially CA) are desperate for money. So beware!
daaaaaaamn! didnt know they could do that!
@@LewisMa Neither did I and it cost me plenty (several thousand dollars). Also, the dealer in London who ships regularly to the US said he'd never heard of such a thing, but it's possible he was just trying to make a sale, so omitted mentioning it up front -- very slimy. So be sure to keep this in mind if you're considering buying internationally: you are probably subject to BOTH import duties and your state's sales taxes (technically use tax, but same rate/impact as sales tax).
You should have mailed them to your residence or a family member in the US using regular post not FedEx or UPS. I do a lot of international business and I’ve never been charged customs by usps but 100% of the time have been charged by FedEx and UPS. This loophole is still open as of feb 2022.
Just reached out to a Tudor AD in VA and they won’t ship out of state. We were texting, he ghosted me once I mentioned I was in CA and asked if he could ship. Not cool as I visit VA frequently and will be there in 3 months. I told him I would come in if I can’t find it by then. (Va tax is low) he still didn’t respond.
Florida started July 2021
Love your videos.
I have purchased from both Chrono 24 and out of state larger Jewelry stores. Not one charged sales tax. I believe as you stated that it is just to complicated to register and follow state by state guidelines.
Go Ga. Tech. To hell with Ga.
🙌🏻🙌🏻 what state are u in Robert?
@@LewisMa Columbus Ga.
@@roberthiers5606 ahhh duh GT! 🙌🏻
Good Info .were Lucky to live in Florida(Miami)
and i didnt even realize until about a week ago!
Were learn every day more
Just found your chanel, I’m enjoying your watch content. I’ve heard you say “you know my feelings about Chrono24” in other videos but I haven’t found the video where you elaborate about them. Looking for info there, your experience, etc. thanks!
Hi there thanks for the support. I think I first mentioned chrono24 in my dealers denying true market value video. Basically they take listing price into account of what the market is doing
I found a sight which I shall not name that I buy from that I have spent about 15000.00 this past year at and they do not charge sales tax. They do not list an addresses they are strictly an online broker. This has saved me about 1,000 dollars. Should I be worried this could come back to bite me later?
Nice. I have no idea. I would guess that saving $1,000 your small fish. I think you're good
So if I ship the watch to florida, I won't have to pay sales tax?
you have to pay tax, only in those states listed as no tax
Hi Cutie ❤