Online Retail Store Sales Tax Help!?!?
I want to open a store online where I will be buying items wholesale and reselling retail. I will be selling in multiple states and am not sure how to pay taxes to so many states.
Do I collect per states sales tax rate and pay to my state of residence or do I pay to each state of purchase separately?
Any help is appreciated! Thank you! I live in MISSOURI.
- 9 years agoFavorite Answer
As I understand online business, you MUST collect sales tax for each sale made in the state in which your business is located- thus Missouri. All other states if they have a sale tax, require the individual to report this purchase on their state income tax and pay the appropriate tax.
- Anonymous9 years ago
Good news. Most of the states do not require out of state merchants to collect tax. This may change if new laws are passed. So the only obligation you have is to collect tax for purchase made by residents from your state. That is it.
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