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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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Texas Sales and Use Tax Form

Customer Question

Texas Sales and Use Tax Form
Submitted: 1 year ago via Cornell Legal Info Institute.
Category: Tax
Customer: replied 1 year ago.
I have a Texas Sales and Use Tax Permit. I buy items from liquidators to resell on ebay. I bought about $6000 worth of merchandise from out of state in the first quarter of 2016, but have not sold any of those during that time. I sold a few from my previous inventory before I got those items? Do I need to report and pay taxes on those purchases? Additionally, 95% of my online sales are to out of state customers. Do I still have to pay taxes on those as well.
Expert:  Angie replied 1 year ago. will not pay taxes on your purchases. You will report your sales only and there is exemptions for out of state sales... so for example... You sell $5000 worth of merchandise 4500.00 of it out of state.You will report $5000 in sales and enter $4500.00 as out of state sales leaving you a sales tax liability on the $500.00 only. The only time you would pay sales tax on your purchases is if you bought them without paying sales tax but did not intend to resell them.