California sales tax exemption info...

[Matthew Rogers]

hi is this Tax cove whose outside California ?
:weight_lift: those in NY or outdie us .will they pay this Tax? :watsup:

Are you talking about the FairTax? If you are, yes retailers would be collecting the FEDERAL sales tax, but not the state sales tax (unless sometime in the future states can regulate out of state sales, but I doubt that will happen for a long while.)

One thing I love about the FairTax is that it will tax ill-gotten money (drug money, etc.) because when those people buy their high end cars, or even TV's, they will be paying "income tax" on that money (whereas they are not now.)

Matthew

 

[Jeff Deveraux]

One thing I love about the FairTax is that it will tax ill-gotten money (drug money, etc.) because when those people buy their high end cars, or even TV's, they will be paying "income tax" on that money (whereas they are not now.)

Matthew

Unless, of course, these shady wheeler dealers buy their products on the black market. I think the FairTax is a good idea though.

 

[Matthew Rogers]

Unless, of course, these shady wheeler dealers buy their products on the black market. I think the FairTax is a good idea though.

True. But I wonder how many criminals bother to go buy a $2,000 TV from a "dealer"? As Neil Bortz says, if someone wants to cheat, they will find some way to do it. It's always been that way, it will always be that way.

Glad to hear you like it. Now just 303,200,000 more Americans to convince!

Matthew

 

[Jeff Deveraux]

One possible down fall of the FairTax is that the corporations will be afraid that the American public will avoid buying things they don't need in order to save on taxes. Just about every lobbyist in Washington will fight it.

 

[Matthew Rogers]

One possible down fall of the FairTax is that the corporations will be afraid that the American public will avoid buying things they don't need in order to save on taxes. Just about every lobbyist in Washington will fight it.

But why would people avoid buying things when everything will be the same price (because you are already paying a 23% built in/passed on corporate tax) and you will be taking home ALL 100% of your pay? It should actually encourage people to spend more because they will be walking away with almost 23% more income each year. Of course, we need to be saving more as a country.... I would take what I am saving (since I am living fine even with paying income tax/social s.) and start saving that. It would help me to actually have some kind of savings! Actually, the system should help people to save because they aren't penalized for saving, but they are for spending (but hey, we won't notice it because the items are the same price!)

Let's face it. Americans love to spend money. Nothing is going to stop that. "Supposedly" our economy isn't doing well...but then why every time I go shopping, the stores are freakin packed with people buying absurdly priced crap?!

Matthew

 

[John DeBoer]

This gem has caused more problems in audits for many a rental and owner operated company.

In the spirit of the season, an late (or early, depending on how you look at it) Christmas present for all the new rental companies out there.....

You can elect to not pay taxes in California on your RED. However, nothing in life is free. You must then charge the state tax to all your clients.

www.boe.ca.gov/pdf/pub46.pdf

If you already paid for your camera without paying the state sales tax, you really have no remedy. You must now remit to the state all revenues that should have been collected. This means that any revenue you make from the camera, must have the sales tax applied, or it will be conisidered "tax included".



ANd this little gem was brought to you by:


John DeBoer
Director of HD Sales, Worldwide
Sim Video Group

www.Simvideo.com

(50+ reds, (#200 and up)

 

[Bob Torrance]

California sales tax exemption

California sales tax exemption

If this threat is about the partial sales tax exemption make sure you read it.

"Regulation 1532 (of Section 6378 of the tax code)

(C) definitions

(4) ...For the purposes of the regulation, "tele-production or other post-production services" includes post-production services and does not include production services or activities......

This bill was about post production. If you are going into the rental business it's a different animal. There are tax breaks for that but under a different set of rules.

disclaimer, I am not a tax advisor (I have a post business). Talk to your accountant.

 

[Mark B.]

If you're taking delivery in Washington, there's a 9% sales tax against the purchase.