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New York State Taxes Article
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Taxes - And Your Online Business - Selling On The Internet
from:By Deb St. George, on Business Taxes - Selling On The Internet in your Tax Preparation Guide From BusinessNewsDirectory.net
Before, garage sales and flea markets were the most popular venues for selling pre-owned or used items that you would want to get rid of and at the same time earn money from. However, thanks to the technological developments that have happened through the years, we
can now have easy access to the Internet and have the options to sell our stuffs there.
If you have been selling your stuffs on the Internet and if you still have future plans to do so, you might want to consider taxes and your online business before you continue with it.
Selling On eBay Or From Your Own Website
A lot of people today are getting attracted by the fact that they can actually sell almost anything on the internet by just posting it on eBay, their own web site or any other site that offers practically the same services.
However, what most people don’t know is that there are actually rules and laws that cover selling items on the Internet.
Getting Serious In Your Online Business
If you have been selling your stuffs for quite a long time already, you may consider it as an
income-generating activity, right? Having an online business really has a lot of perks and advantages such as being able to work right at home, not having to have your own boss, etc.
However, having an online business doesn’t mean that you are free from paying your taxes. When you decide to be more serious about your online business, there are a lot of things you have to consider.
Perhaps the first and most important thing you have to consider is the legality of your online business. Make sure that you are not breaking any rule or law so that you and your reputation won’t be in jeopardy.
In addition to that, you must be aware of the several laws that come along with online businesses such as tax rules.
You have to be aware of the different taxation conditions of different states and countries because since you will be having a business online, people from different parts of the world will more or less become your customers or potential business partners.
You must also be aware of the process for paying federal and state taxes for online businesses. Maybe you will have some questions such as:
"Do I need a tax ID number?", "Do I need to file specific paper works or forms?", "How do I begin to
pay federal and state taxes?", etc.
Some of the basic things you need to know about having a legal online business is that your business is actually the one that will pay income taxes in pretty much the same way it would if it were a brick-and-mortar kin of business.
The address for filing you income tax will be the principal business address of the entity. The laws of the particular states that you transact or have business with are the ones that would determine whether you will be required to pay state income taxes.
You should also be aware that a lot of states impose "sales" taxes on items that are purchased by the residents of their state. For you not to get in trouble or end up getting dazed and confused with the many laws and conditions of taxes and your online business, you can try to consult a lawyer knowledgeable in these matters.
New York State Taxes News
NY legislators cite tax-records privacy concerns - Wall Street Journal
 New York Daily News | NY legislators cite tax-records privacy concerns Wall Street Journal AP ALBANY, NY — A quiet decision by the Cuomo administration involving the ability of his appointed inspector general to access private tax records of legislators and state employees was called dangerous by a top lawmaker Monday. State Sen. Tax chief deputizes IG staff to permit use of returns |
Online businesses threaten to move out of state if charged sales tax - MyCentralJersey.com
Online businesses threaten to move out of state if charged sales tax MyCentralJersey.com WEST NEW YORK — Affiliate Nexus Tax Legislation proposed by Sen. Paul A. Sarlo (D, Bergen and Passaic) and Sen. Raymond J. Lesniak (D, Union) will cost New Jersey thousands of jobs and decrease tax revenue. ECoupons.com and hundreds of small ... |
Pennsylvania Set to Allow Local Taxes on Shale Gas - New York Times
 Upstream Online | Pennsylvania Set to Allow Local Taxes on Shale Gas New York Times Lawmakers in Pennsylvania had been trying to agree on how to harness the development of the Marcellus Shale, a gas deposit under a large area of New York, Pennsylvania and Ohio. The industry is booming here, and supporters of the bill say it is high ... Penn Senate passes shale tax bill Pennsylvania To Impose Impact Fee On Gas Drillers Pennsylvania Set to Approve Fracking Regulations |
NY comptroller, leaders fear power grab in budget - Wall Street Journal
 North Country Public Radio | NY comptroller, leaders fear power grab in budget Wall Street Journal AP ALBANY, NY — Leaders in Gov. Andrew Cuomo's own Democratic Party as well as his close Republican Senate ally on Tuesday accused the governor of a making a power grab in his budget proposal, saying he was trying to claim too much control over state ... Cuomo: Hydrofracking decision could come soon Executive Budget continues positive fiscal path, says comptroller Skelos, DiNapoli Fear Cuomo Power Grab |
Occupy Protesters Interrupt State Budget Hearing - New York Times (blog)
 New York Times (blog) | Occupy Protesters Interrupt State Budget Hearing New York Times (blog) By THOMAS KAPLAN Nathaniel Brooks for The New York TimesProtesters briefly interrupted testimony by the state tax commissioner Thomas H. Mattox, lower right, in Albany on Monday. ALBANY – Two dozen protesters from the Occupy movement, which two months ... |
Buffett Rule Proposal Is A Win For Tax Exempt Bonds -- And Divorce - Forbes
Buffett Rule Proposal Is A Win For Tax Exempt Bonds -- And Divorce Forbes This, no doubt, is a relief to state and local officials of high tax/high debt states like Schumer's New York and Whitehouse's Rhode Island. One other piece of good news, this one for the only somewhat rich: the 30% minimum would be phased in between ... |
New York Wins the Battle for Fresh Direct - New York Times (blog)
 New York Times (blog) | New York Wins the Battle for Fresh Direct New York Times (blog) The battle over whether the Giants belong to New York or New Jersey may rage eternally, but for now New York has scored a decisive victory in the War for Fresh Direct. Fending off a $100 million package of tax breaks, land and other subsidies dangled ... Bronx residents, activists to weigh in Thursday on public benefits for new ... Fresh Direct Checks In Sweet Government Subsidies Keep Fresh Direct In NYC |