Online Diamond purchases and Taxes

[Leafs]

Just a quick question. I am in Wisconsin and I am wondering if I purchase a diamond online from GOG will I have to pay federal or state taxes on the diamond purchase.

Thanks,

Paul

 

[elgar]

GOG is located in NY and they will not charge you New York sales tax and will not collect WI sales tax. Technically,you should self assess WI use tax and pay it to your state, but in reality individuals never comply with use tax statutes. There is no federal transactional tax.

 

[niceice]

See this threat titled "out of state = no taxes"
https://www.pricescope.com/community/threads/out-of-state-no-taxes.7711/

 

[Boulder]

For some reason that link didn't work for me. I tried to search on the title, but no luck...

I would be interested in reading this.

 

[hoorray]

clicking on the link didn't work for me, but if you do and advanced search on sales tax, it should come with several threads. One from July was useful...

 

[Smooth]

Working link (I think):
https://www.pricescope.com/community/threads/out-of-state-no-taxes.7711/

 

[Boulder]

Thanks, Smooth!

 

[aljdewey]

Leafs, Elgar is 100% right. GOG will not collect any taxes from you for an internet purchase. In theory, you are supposed to self-assess and remit to your state the "use tax", but seldom do individuals do this.