Mark Morrell setting - Tax

[ellie424]

Does anyone know how much tax is calculated (percentage) for a Mark Morrell signature setting? I''m just not sure what the taxes in MA would be. Thanks in advance!

 

[blackwave]

Unless you live in MA as well then there should be no sales tax. Someone correct me if I''m wrong, please! If you do live there, then I have no idea

 

[tyty333]

Ellie,
I think you are suspose to *pay the taxes in the state you are in.

Can you tell me where that picture in your avatar is? Its beautiful!

Tyty

*some folks *forget* to pay this

 

[ellie424]

Thanks so much for your responses!

tyty333 - My avatar picture is of Jalousie Beach in St. Lucia. It is a beach in between the Gros and Petit Pitons in St. Lucia and is absolutely gorgeous!! One piton is in the photo. My boyfriend and I enjoyed the day there on a cruise we took in Jan 08. I definitely want to return!

 

[gwendolyn]

MA sales tax is 5%. They occasionally have tax-free shopping 'holidays,' but any single purchase totaling $2500 or more is not included--not sure how much you'd be paying him, but if it's less, then maybe you could do a search to find out if there will be any of these days in 2009. I had a quick look, but only saw things from 2008.

It's my understanding that you are supposed to include sales tax from purchases out of state on your federal income tax, but I'm not 100% positive.

Sorry that wasn't more helpful!

 

[justinislooking]

You have to pay the sales tax in the state you pick it up or purchase it in. If you purchase and pick it up in MA, you have to pay MA sales tax on it. If you purchase it from a jeweler in TX and have it shipped to MA, you should pay MA sales tax on it. If you live in MA and drive to TX to purchase/pick up the ring, you will pay TX sales tax on it and it should be added on by the jeweler. This is what you are ''supposed'' to do. Most don''t.

 

[gemnick]

I personally do not know of anyone who pays sales tax on their out of state, on-line, jewelry purchases.

Is there anyone here who has made a substantial jewelry purchase with an out of state on-line jewelry vendor who has subsequently paid the sales tax in the state in which they reside?

 

[denverappraiser]

Yes, there are people who pay their taxes.

Sales tax is imposed on the buyer, not the seller, and the taxing authority is generally the local government in your state of residence. Every state that has a sales tax has an identical ‘use’ tax that covers situations where the merchant is not required to collect and remit the tax. There are some exemptions, like where taxes were collected on behalf of some other state, but Internet purchase aren't one of them. The rules as well as any required forms will be on the website of your local taxman. Try googling 'sales tax' and the name of your state or use the search function on the reveneurs own site. The states don’t all do it the same way but usually it’s pretty easy to find because there is so much confusion on this issue. Expect more enforcement effort in this area in the future as the states get more desperate for money. There’s quite a bit at stake for them.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver