- Nov 19, 2004
right bunnifer.Date: 2/5/2007 11:02:51 PM
Date: 2/5/2007 10:48:32 PM
***I see where I might have confused people. Texas has no state tax. Only federal so thats not the issue at stake. The discount I was referring to was the bank wire vs credit discount.
My problem is if I lived in another state(without state tax) I wouldn''t pay sales tax on my purchase. I live in Texas therefore I pay taxes on anything I buy online that has a location in Texas. So my question was is paying the extra 500 dollars in Sales tax immediately upon checkout worth it to get it from vs. ? In your opinions. I know ultimately its up to me but I want some other voices to chime in.
In the end I''m not saving the extra money that alot of people go online to save but I''m right by the store as well. I''m not sure if you can visit their actual location over here or not. It''s an office building. But being a soon to be college grad, is it worth the money. I''m looking at a Hearts and Arrows and brilliance is a big factor to me. does not show me any such graphs of their diamonds.
All I think Kenny is saying is that, either way (whether you decide to purchase from or ), you will be required to pay either a sales tax (if you buy from ) or be required to report and pay a use tax (if you buy from ). A purchaser is required to pay a use tax (usually equal to the rate of sales tax) on all purchases bought out-of-state if the purchaser were to pay sales tax if the purchase had been made in-state. This is generally done to protect in-state businesses from unfair competition from out-of-state vendors.
In other words, suppose you bought a diamond from and because it was an out-of-state purchase, you were not charged sales tax. If you would have paid sales tax on the diamond you purchased from (which you would have), you are required to report and pay the use tax on the diamond, which is equal to TX sales tax rate of 6.25%.
ETA - I think TX does have sales tax ... http://www.cpa.state.tx.us/taxinfo/sales/faq_use.html#use2
look at it this way, if sales tax is charged when you walk in to an establishment to make a purchase, then you should be paying (or reporting) those taxes. just because you didn''t walk in to the store doesn''t mean your exempt from paying.
tx does have sales tax