Understanding sales tax, especially on platforms like ShareGrid, can be a tad tricky. We've streamlined the details to make it easier for you. Let's dive in!
ShareGrid & Sales Tax: The Basics:
Automatic Tax Collection: If you're a ShareGrid owner or seller in a state where we handle sales tax (known as a Marketplace Facilitator state), here's some good news: we'll collect and pay sales tax for you. That's one less thing for you to worry about!
Non-Opt Out: This process is automatic and standard for our platform. So, there's no option for you to opt out.
No Impact on Your Pricing: The sales tax is added to the transaction and won’t change the listing price you've set.
What if ShareGrid's Automatic Collection doesn't cover My State?
For regions not listed under our automatic tax collection:
You Might Have Responsibilities: You could need to calculate, collect, and submit sales taxes yourself.
Setting Up Your Tax Policies: If this applies to you:
Go to your account settings.
Review and agree to the terms.
Pick the state where you'd like to collect taxes.
A Friendly Reminder:
Each seller should stay informed about their local tax laws. Unsure about how to go about it? Don’t hesitate to reach out to an accountant or local tax expert. They'll guide you in the right direction.
Statement in Lieu of New York State Department of Taxation and Finance Form ST-150: ShareGrid is a registered New York State sales tax vendor and will collect sales tax on all taxable sales of tangible personal property that it facilitates for delivery to a New York State address.
DISCLOSURE: This communication is on behalf of ShareGrid Platforms, LLC or its affiliates (“ShareGrid”). This communication is for informational purposes only and contains general information only. ShareGrid is not rendering legal, financial, accounting, business, tax, or other professional advice or services by means of this communication. This communication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your interests. You should consult a qualified professional advisor. ShareGrid does not assume any liability for reliance on the information provided herein.