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Post by lundgren on May 1, 2011 21:45:56 GMT -5
You may or may not know, LifeVantage charges you sales tax on the RETAIL amount of your product purchase with your autoship.
This is a legal requirement that LifeVantage must meet, and the report to certain states with this. I'm glad our company is compliant.. however this begs a question.
What do we do, on our taxes or otherwise, if we are not selling this product, or maybe we do? Is there some form of rebate from the state for these taxes, or are these taxes simply a form of exception as a part of our Schedule C deductions anyway for our LifeVantage business?
I've got people in my group looking for advise, and most tax consultants I know, do not have an answer. Maybe this is specific to network marketing arrangements?
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Post by scottwas on May 5, 2011 14:21:49 GMT -5
by the corporation collecting the sales tax at the highest level we do not have to have resale permits in each state. We as individual business owners you do not have to file a sales tax return each month on the sales tax you collect. The corporation collects it and files it. I own another small business with a resale permit. believe me this is the best way.
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