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I noticed the $1 million exemption for small businesses. How will that work? If you sell for 11 months without collecting taxes then find yourself going viral a
by mark-r 14y ago
I noticed the $1 million exemption for small businesses. How will that work? If you sell for 11 months without collecting taxes then find yourself going viral around Christmastime and crossing the $1 million mark unexpectedly, are you suddenly liable for all those prior sales?
- dragonwriter 14y ago> I noticed the $1 million exemption for small businesses. How will that work? If you sell for 11 months without collecting taxes then find yourself going viral around Christmastime and crossing the $1 million mark unexpectedly, are you suddenly liable for all those prior sales? No, the $1 million is for total remote sales in the preceding calendar year. So up until the first year you make remote sales of $1 million, you are exempt; once you reach that threshhold, you are not exempt in subsequent years until the first year after the first year in which you fail to make $1 million in remote sales.
- hfsktr 14y agoIt probably would be that the first $1 million is free then after that the tax. I don't want to even guess at how much harder that would be to track on top of everything else. edit: Looks like someone else has a better grasp of it. Still would suck all around.