Service Update: Internet Sales Tax Legislation Changes

What’s Changing on April 1st, 2019: 

Last year, the Supreme Court voted to remove the requirement that online retailers must have a physical presence in a given state in order for that state to impose sales tax obligations on a retailer. Since then, states have individually begun to adopt and implement this legislation. While these laws are in their infancy and will continue to expand and evolve over time, COMC will comply with any states requiring us to collect states sales tax on incoming payments from customers that reside within that state.

In accordance with this new legislation, COMC will calculate, collect, and remit sales tax for all incoming payments received from customers residing in the following states starting on April 1st, 2019:

California
Colorado
Connecticut
D.C.
Georgia
Hawaii
Illinois
Indiana
Iowa
Kentucky
Maine
Maryland
Massachusetts
Michigan
Minnesota
Nebraska
Nevada
New Jersey
New York
North Carolina
North Dakota
Oklahoma
Pennsylvania
Rhode Island
Utah
Vermont
West Virginia
Wisconsin
Wyoming

We expect that more states will continue to be added to this list in the coming months and will continue to provide updates as needed.

For tax-exempt and non-profit organizations with a sales tax exemption certificate, or businesses with a resellers permit, please contact staff@comc.com with your documentation so that our team can ensure that your account is not charged sales tax going forward.

Make a Trade!  Sell Items to Earn COMC Credit to Buy the Cards You Want Without Additional Sales Tax

With this new Sales Tax Legislation, COMC is only required to collect sales tax on incoming payments from customers in states that have adopted these new laws. Store Credit earned through selling items on COMC is not taxed.Whether you’re selling items that you submit for consignment, or flipping items you bought on the COMC Marketplace, sales tax is not applied to purchases made with Store Credit you earned from the sale.

This is an enormous added benefit that you’ll only find on COMC to the already abundant reasons that you should be selling your trading cards and comic books through our service. By doing so, you’ll not only save the time and hassle of doing the work yourself, but you’ll now save by not paying sales tax for the items that are purchased on COMC.

If you have any questions or comments regarding these changes, our friendly Customer Service Team will be more than happy to assist! Thank you.

– The COMC Team 

 

One thought on “Service Update: Internet Sales Tax Legislation Changes

  1. Keep up the great work COMC! I am anxiously waiting foe the two things you promised would be coming: PSA grading and Auctions!! Once u add those services i will never sell anywhere but with u!! Please please bring auctions soon! Its the most thrilling way to sell high end cards!! Cant wait! 🙂

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s