Garage liquidating corporation illinois

by  |  22-Nov-2016 19:20

Youngsville Fire Department Surplus Auction Ending 11/8 Items include 1985 Pierce Pumper Truck.

garage liquidating corporation illinois-32

Reading through legal text, hoping to find the one sentence that applies to your situation, can be difficult. Some states include specific exemptions for auctions, but make no mention of professionally-run tag sales. And if you’re not an estate sale company, and instead seeking one out to liquidate your assets, you’ll want to know your responsibilities, and be confident the company you hire does, too.

Are they basically the same in the eyes of the law? There are exceptions to every rule and caveats for every emptor, so in an attempt to make everyone’s lives easier, we’ve collected all the basic information regarding sales tax in all fifty states, and compiled them here for your reading pleasure.

So while this document can act as a guide—a jumping off point—you should contact your state’s department of revenue to confirm your responsibilities. Two states have taxes that affect vendors, though they are not technically sales taxes. Hawaii assesses a 4% General Excise Tax on all business activities, and Arizona’s Transaction Privilege Tax, which is usually passed on to the customer, is assessed for the “privilege of doing business in Arizona,” according to a Department of Revenue representative.

But don’t worry, we’ll give you the contact information, too. Estate sales as “occasional” Every other state has a sales tax, but they also have exemptions.

It’s important to note, though, that tax laws frequently change, and can be interpreted differently.

Community Discussion