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If I resell a product that I already paid California sales tax on do I have to pay sales tax again on the resale?
Wiki User
∙ 11y ago
Yes and no.
It depends on your situation. If you are a business, for example, and you are in construction, if you paid sales tax on lumber, you don't have to collect it from the end user. If you bought the lumber with a reseller's permit, you didn't pay taxes, so you need to collect it from the end user.
If you routinely hold garage sales, you would have to collect sales tax on the items, even though they have already been taxed at purchase.
Think of a vehicle in CA - it is taxed each time it changes owners, regardless of who paid the original tax.
Wiki User
∙ 11y ago
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When merchandise is purchased to resell to customer's it is recorded in the account entitled?
merchandise inventory
If you settled a charged off account with a collections agency for less than the full amount can they resell the difference to another agency?
Yes unfortunately they can. Companies today want the charged off account money and will sell it to another agency in order to get this. It will show up on your credit report under another company...so you have 2 listings on your credit report for the original account.
What are examples of matching principle?
The best example of when the matching principlecomes into play concerns the case of businesses that resell inventory. In our hot dog stand example, you should count the expense of a hot dog and the expense of a bun on the day when you sell that hot dog and that bun. Don't count the expense when you buy the buns and the dogs. Count the expense when you sell them. In other words, match the expense of the item with the revenue of the item
What is the difference between outstanding expenses and creditors?
They are both liabilities and, therefore, represent money owed by the business. The only difference is that while creditors are owed money because you bought stock from them (the items you will either resell or use for manufacturing) and have not paid while outstanding expenses represent money owed for services (such as electricity) or other general expenses that have not been paid, even though they have now become due.
Is anyone using double payment system?
The Double Payment System is just another make-money-at-home scam. You are buying an e-book which you then have to try to resell to others to make money. If you want to make money you are going to have to do real work, or become a criminal, like the original sellers of the Double Payment System.
What is the proper grammar resell or resale?
resale
Is it legal to purchase an item from retailer and resell to consumers?
It wouldn't be legal if the retailer or the product said not to resell. Some products are clearly labeled as "not for resale", however they lack the label. Sometimes, the fine lines are only found in the product disclaimer on the company's website, which is a vague thing to do.
Why is it illegal to resell groceries purchased with a coupon?
I don't think its illegal to resale unless the coupon states that you can't resale it
Master resale rights definition?
If you own Master Resell Rights to a product, you can resell it, bundle it or include it in your own membership site. You may even be allowed to pass on the resell rights to others, meaning that when you sell that product to someone, they can turn around and sell it to someone else. Master resell rights can vary a little depending on the product creator.Here is sample master resell rights description from a well known product1:Master Resale Rights License Includes:[YES] Can resell unlimited copies of the product for any price. (RRP $97)[YES] Can bundle in with other products.[YES] Can pass along resell rights to customers. (RRP $149)[YES] Can pass along master resell rights to customers. (RRP $297)[YES] Can include in a paid membership site with $27 fee or more.[NO] Can include in a paid membership site with less than $26.99 fee.[NO] Cannot sell the software on eBay or any other online auction sites.[NO] Cannot give the software away for FREE.1. Sample provided by http://www.masterresellrightsmonthly.com
Is it possible to buy wrecked cars fix and resale them?
Is it possible to repair a car that was in an accident and then resell it?
Where can I resell my Hawaii timeshare online?
You can go to timeshareresaleshawaii.com. They are one of the oldest and largest resale brokerages in hawaii.
Is it legal to resell things you just bought?
If you have a resale license, you can. Check your state's website for information about what is required.
Is it possible to resell Digital Books that I have purchased?
It depends on the terms of service of the platform where you purchased the digital book. Many platforms do not allow for resale of digital books due to copyright restrictions.
Is it legal to modify and then sell an existing product?
If the developer whom you bought the product allows you to modify the product and then resell it, then it's legal.On the other hand if the product you bought says that you cannot modify, re-produce or resell, then it's illegal.
Can you resell Microsoft products you have already registered on your personal computer?
No, that's illegal.
Which 2006 cars have held their resale value the best?
According to a MSN autos online article it appears that BMW hold the best resell value for 2006. They are followed by Nissan.
What are some important things to be aware of when considering a timeshare resale?
Timeshares usually resell for much less than people expect them to. So, don't be disappointed if you don't get as much for your timeshare as you expect.
