Ebay charges tax based on the laws of the state. But they don't look at listings item by item to determine exemptions. They apply them based on the category in which the item is listed.
This is the reality of the California. I am trying to find out if eBay is following that! I am considering a 5 figure purchase of PM’s. I do not want eBay to charge me tax, (I would have to renig on the purchase) If I followed through on the purchase, I would be required to try to recoup the tax from the California Tax board. So I know the law, but what is eBay’s official stance on Precious Metals over $2000 purchased? Always taxed, sometimes taxed, rarely taxed based on where the seller lists it, all the above?
If you consider to purchase precious metals and want be sure that you get a real platinum/ gold/silver, use reputable pm dealers…especially if you spend significant sums of money…
< I am considering a 5 figure purchase of PM’s >
There are reputable, even excellent, precious metal dealers on eBay. There are also thieves lurking behind every bush. Did you find a great deal, such a great deal that you can't get your wallet out fast enough? Beware. Be very careful. Don't expect to find a bargain that's too good to be true. I haven't spent a five-figure amount, but I have recently spent a mid-four figures for a coin. You can bet the farm that I made certain the seller was reputable.
eBay charges sales tax based on the state laws the item is shipped to. They use the category the item is listed in to determine if it is taxed or not so it is possible to be charged sales tax on a non-taxed item listed in the wrong category.
If the item is tax free, and you paid the tax, you will need to contact your states taxing authority to get a refund.
kathiec
·8 months ago@1esoteric1
Ebay charges tax based on the laws of the state. But they don't look at listings item by item to determine exemptions. They apply them based on the category in which the item is listed.
1esoteric1
OP8 months agoThis is the reality of the California. I am trying to find out if eBay is following that! I am considering a 5 figure purchase of PM’s. I do not want eBay to charge me tax, (I would have to renig on the purchase) If I followed through on the purchase, I would be required to try to recoup the tax from the California Tax board. So I know the law, but what is eBay’s official stance on Precious Metals over $2000 purchased? Always taxed, sometimes taxed, rarely taxed based on where the seller lists it, all the above?
Thank You to all who answered my question
msha3839
·8 months agoIf you consider to purchase precious metals and want be sure that you get a real platinum/ gold/silver, use reputable pm dealers…especially if you spend significant sums of money…
gosimus
·8 months ago@1esoteric1
< I am considering a 5 figure purchase of PM’s >
There are reputable, even excellent, precious metal dealers on eBay. There are also thieves lurking behind every bush. Did you find a great deal, such a great deal that you can't get your wallet out fast enough? Beware. Be very careful. Don't expect to find a bargain that's too good to be true. I haven't spent a five-figure amount, but I have recently spent a mid-four figures for a coin. You can bet the farm that I made certain the seller was reputable.
ryry-jj
·8 months agoin California, a single transaction over $2k in bullion/coins has some exemption to being non-taxable. Must be 90% pure gold/silver for starters.
lisa5768
·8 months ago@1esoteric1
eBay charges sales tax based on the state laws the item is shipped to. They use the category the item is listed in to determine if it is taxed or not so it is possible to be charged sales tax on a non-taxed item listed in the wrong category.
If the item is tax free, and you paid the tax, you will need to contact your states taxing authority to get a refund.
1esoteric1
OP8 months agoThank You for your answer. Interesting, what ebay does with that money the state doesn’t collect or charge?
simba6
·8 months agoThey remit it to the state. Or else the bear would get very angry.
bonanza125
·8 months ago“Interesting, what ebay does with that money the state doesn’t collect or charge?â€
The tax which is collected goes to the state.
bonanza125
·8 months agoEbay collects sales tax from California on all purchases.