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Like any other sole proprietorship, there are several laws that are enforced when you set up an entire business around selling items on eBay.  As an individual seller, you are not required to register a business; however, if you don’t, you still have to report earnings from eBay for personal tax purposes.  Many people who sell regularly on the auction site will choose to register the sole proprietorship just to keep things simpler.

 Once you’ve done this, you are required by law to report to the tax assessor collector several times a year, usually once per quarter, the earnings for that quarter.  This allows the government to keep track of your consistency and your earnings throughout the year so that, when it is time for the tax return, it is easier for them to review your reported earnings and compare.  If you have any employees, you must also keep track of their hours and pay.

Any supplies you purchase to assist you in the eBay sales business, including software packages, packing and shipping supplies, and even the expense of shipping the item, should be kept in addition to the cost of the merchandise and the warehousing expenses so that these can be deducted for tax purposes.  Itemized receipts should always be kept in a file in case of an audit, as should copies of all invoices for items sold and shipped.

Remember that, on eBay, you normally do not have to charge taxes to your buyers because the interstate transactions void this need.  However, if a purchaser lives within the same state as you, you are required to charge the state tax percentage for the transaction.  Most states do not require that tax be charged on the shipping fees, but the sales price must have a tax tacked on.  Local taxes are not required.  For example, in Dallas, Texas, you will pay 8.25% tax at a local store.  However, 2% of this is a local tax, so a sale made over eBay to someone in Houston, Texas, incurs a 6.25% sales tax.

These are just a few of the rules and regulations involved in starting an eBay business.  You should check with your local courthouse and the tax assessor collector for further guidelines within your area.  Making the effort to register a business can be helpful, but it will only cause you legal trouble if you don’t pay attention to the laws of the land.

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