Best Buy Downsizing.

[charper1]

Ah, but therein lies the issue. Most states don't actually have a mechanism for someone to pay this. The majority of states do not have this as a separate line on the state income tax form. Other states (such as Tennessee, Florida, Texas and others) do not have a state income tax at all so there is no way to pay it even if you want to since you don't file anything with the state on a yearly basis.

TN also has a place: (and as I have heard many a judge say "ignorance of the law is no defense")

Consumer Use Tax


and here is the filing form (regardless of state income tax)

http://www.tn.gov/revenue/forms/sales/r0000501.pdf

Department of Revenue

 

[lakebum431]

How many of those do you think actually get filed? At least in states where there is a line item in the state income tax form there is something that people at least have to either fill out or intentionally skip.

 

[rockymtnhigh]

Does Turbo Tax have a interview question on that tax in those states which have it? At least in Colorado and Illinois, I have never seen such questions, thankfully.

 

[Steve Mehs]

The mom-and-pop stores might charge more for a lot, but in many cases, Sony, for example, isn't it true that Sony doesn't allow the retailer much leeway in the price to the customer ? They do this to "help" or protect the smaller stores.

I've heard that as well, and if you belong to Best Buy's Reward Zone program those once a month 10% off coupons that get emailed to you, in the fine print it pretty much says not valid on any Sony, Apple or Bose products. But that doesn't explain how I managed to save upwards of $3000 when other then the Xbox 360, every other item I purchased (TV, BD Player, A/V Receiver, 5.1 Speaker Set Up, PS3) a few months ago is a Sony product and none of the savings was due to closeouts.

Mom and pop shops are good for one thing though, in the event they do have a lower price, there is price matching. This totally slipped my mind. In 2006 when I bought my first HDTV I went to a local shop and found a 42” Sony HDTV I liked, I went across the street to Circuit City they were $100 higher but did a meet and beat by $50. When back across the street they said they couldn’t do better, so it was off to Circuit City. I used the local shop like a $2 whore and then threw her to the curb after I got what I needed!

Nothing like pitting the competition against each other, and in this instance as well, the stupid local store didn't have the TV in stock.

As for the taxes, Screw NY state! This state and my corrupt county get so much undeserved money it makes me sick. I have yet to wrap my head how taxes can be charged on used goods. On used cars for example. In 2007 I purchased a 2005 Lincoln Aviator luxury SUV that cost $47,000 originally. Both NY State and my county made upwards of $2,000 EACH on that purchase from the original owner. A couple years later I buy THE EXACT SAME ITEM that someone already purchased and I have to pay tax on it. Nothing more than double dipping. So F NY State! F Erie County! I won’t lose one wink of sleep tonight because I didn’t pay tax on my TV.

 

[lakebum431]

As for the taxes, Screw NY state! This state and my corrupt county get so much undeserved money it makes me sick. I have yet to wrap my head how taxes can be charged on used goods. On used cars for example. In 2007 I purchased a 2005 Lincoln Aviator luxury SUV that cost $47,000 originally. Both NY State and my county made upwards of $2,000 EACH on that purchase from the original owner. A couple years later I buy THE EXACT SAME ITEM that someone already purchased and I have to pay tax on it. Nothing more than double dipping. So F NY State! F Erie County! I won’t lose one wink of sleep tonight because I didn’t pay tax on my TV.

Here is something even stranger. In Georgia (where I lived for 8.5 years) when you buy a used car from a dealer you pay tax, when you buy a used car from an individual you do not owe tax (this is not a situation as we have been discussing, but is actually the law). Explain how that makes any sense at all!!! Of course you do have to pay ad valorem (property tax) on cars every year but that is totally separate from the sales tax above.

 

[TheForce]

Sales tax is a tax on a sale. Doesn't matter whether it is a used item or not. However, as with most taxes, laws can be written to exempt some items. That varies greatly with each state. e.g. here in Florida compressed gas is tax exempt. Equipment used to create broadcast TV is tax exempt if you declare it first on a special form, pay the tax, then the state sends it back to you at the end of the year. Now that one is really weird.