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Thread: Thanks for the Resale Info

  1. #1
    Sqwertz Guest

    Default Thanks for the Resale Info

    I got my resale certificate yesterday, so I'm now in "business". That
    much easier than I anticipated since Austin doesn't have a business license
    requirement and I can have one granted right in my own name.

    And I just learned that I can file my "No Taxes Due" right over the
    push-button phone by calling the "no taxes due" return phone number. So
    these things must be pretty popular.

    I didn't expect it to come so quickly, so I didn't make it effective until
    next quarter. So now I have to wait a gut-wrenching 2 weeks before I can
    shop at Restaurant Depot.

    Here's the current ad:
    http://www.restaurantbyclick.com/rd/.../aug10_tex.pdf

    Anybody want to go haves on me on 40lbs of Kronos Gyro Meat? Only $1.50/lb
    after my $25 off first time buyer coupon!

    Anybody have any comments on the quality of beef sold there?

    -sw

  2. #2
    Melba's Jammin' Guest

    Default Re: Thanks for the Resale Info

    In article <iJW9o.23$[email protected]>,
    Sqwertz <[email protected]> wrote:

    > http://www.restaurantbyclick.com/rd/.../aug10_tex.pdf


    Dang! $1.30/lb for mushrooms. Nice.

    --
    Barb, Mother Superior, HOSSSPoJ
    Holy Order of the Sacred Sisters of
    St. Pectina of Jella
    "Always in a jam, never in a stew;
    sometimes in a pickle."
    Where are my pearls, Honey?

  3. #3
    Paul M. Cook Guest

    Default Re: Thanks for the Resale Info


    "Sqwertz" <[email protected]> wrote in message
    news:iJW9o.23$[email protected]..
    >I got my resale certificate yesterday, so I'm now in "business". That
    > much easier than I anticipated since Austin doesn't have a business
    > license
    > requirement and I can have one granted right in my own name.
    >
    > And I just learned that I can file my "No Taxes Due" right over the
    > push-button phone by calling the "no taxes due" return phone number. So
    > these things must be pretty popular.
    >
    > I didn't expect it to come so quickly, so I didn't make it effective until
    > next quarter. So now I have to wait a gut-wrenching 2 weeks before I can
    > shop at Restaurant Depot.
    >
    > Here's the current ad:
    > http://www.restaurantbyclick.com/rd/.../aug10_tex.pdf
    >
    > Anybody want to go haves on me on 40lbs of Kronos Gyro Meat? Only
    > $1.50/lb
    > after my $25 off first time buyer coupon!
    >
    > Anybody have any comments on the quality of beef sold there?


    I'd not treat your reseller permit so lightly. Here in SoCal you can get in
    a lot of trouble with an agency that makes the IRS look like a bunch of
    fuzzy bunnies at a pet shop. When you buy, your purchases are reported to
    the state board of equalization and if you do not resell you can expect some
    very nasty treatment. The whole purpose of a reseller permits is so you
    resell and charge sales tax which you then send to the state. They'll yank
    your permit very quickly if you don't use it. And if you do not resell you
    will be charged a floor tax come tax time.

    But then again, this is you we're talking about.

    Paul



  4. #4
    Bob Terwilliger Guest

    Default Re: Thanks for the Resale Info

    Paul wrote:

    > I'd not treat your reseller permit so lightly. Here in SoCal you can get
    > in a lot of trouble with an agency that makes the IRS look like a bunch of
    > fuzzy bunnies at a pet shop. When you buy, your purchases are reported to
    > the state board of equalization and if you do not resell you can expect
    > some very nasty treatment. The whole purpose of a reseller permits is so
    > you resell and charge sales tax which you then send to the state. They'll
    > yank your permit very quickly if you don't use it. And if you do not
    > resell you will be charged a floor tax come tax time.
    >
    > But then again, this is you we're talking about.


    I thought this had been covered in the previous discussion: Steve was going
    to say that he used up everything he bought "perfecting the recipes" and
    "giving samples to tasting panels." As long as the quantities are modest,
    that ought to be plausible.[1]

    But.... If we *didn't* discuss that, how... how...... how did the notion get
    into my head? OH NO! THE VOICES! THE VOICES!

    Bob
    [1] I don't condone the scheme, but I think he'll probably get away with it.




  5. #5
    Paul M. Cook Guest

    Default Re: Thanks for the Resale Info


    "Bob Terwilliger" <virtualgoth@die_spammer.biz> wrote in message
    news:4c684e48$0$23688$[email protected]..
    > Paul wrote:
    >
    >> I'd not treat your reseller permit so lightly. Here in SoCal you can get
    >> in a lot of trouble with an agency that makes the IRS look like a bunch
    >> of
    >> fuzzy bunnies at a pet shop. When you buy, your purchases are reported
    >> to
    >> the state board of equalization and if you do not resell you can expect
    >> some very nasty treatment. The whole purpose of a reseller permits is so
    >> you resell and charge sales tax which you then send to the state.
    >> They'll
    >> yank your permit very quickly if you don't use it. And if you do not
    >> resell you will be charged a floor tax come tax time.
    >>
    >> But then again, this is you we're talking about.

    >
    > I thought this had been covered in the previous discussion: Steve was
    > going
    > to say that he used up everything he bought "perfecting the recipes" and
    > "giving samples to tasting panels." As long as the quantities are modest,
    > that ought to be plausible.[1]


    Won't work. You are responsible for paying the floor tax on whatever
    inventory you did not resell by 12-31 of every year. Doesn't matter if you
    flushed it down the toilet. Not sure though where in this country you pay
    sales tax on food items, though. So what's the point?

    > But.... If we *didn't* discuss that, how... how...... how did the notion
    > get into my head? OH NO! THE VOICES! THE VOICES!


    Maybe you read everything here but I don't bother with 98% of it.

    > Bob
    > [1] I don't condone the scheme, but I think he'll probably get away with
    > it.


    The state sales tax collectors in all 50 sats have powers you don't even
    want to know about. I let my reseller permit expire a long time ago and
    formed a business model where I do not resell, I only sell labor which is
    non-taxable. Dealing with the state on sales taxes is a nightmare.

    Paul



  6. #6
    Mr. Bill Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 15:27:32 -0700, "Paul M. Cook" <[email protected]>
    wrote:

    >formed a business model where I do not resell, I only sell labor which is
    >non-taxable. Dealing with the state on sales taxes is a nightmare.


    Learned that lesson 25 years ago....I don't need the "gubment" in my
    business...and there are plenty of legitimate ways to side step the
    greedy paws. ...and I meant that in the nicest way Paul!






    Join me....a little fun, some ramblings and good recipes

    http://whstoneman.blogspot.com

  7. #7
    Dan Abel Guest

    Default Re: Thanks for the Resale Info

    In article <4c684e48$0$23688$[email protected]>,
    "Bob Terwilliger" <virtualgoth@die_spammer.biz> wrote:


    > I thought this had been covered in the previous discussion: Steve was going
    > to say that he used up everything he bought "perfecting the recipes" and
    > "giving samples to tasting panels." As long as the quantities are modest,
    > that ought to be plausible.[1]
    >
    > But.... If we *didn't* discuss that, how... how...... how did the notion get
    > into my head? OH NO! THE VOICES! THE VOICES!
    >
    > Bob
    > [1] I don't condone the scheme, but I think he'll probably get away with it.


    I don't remember the "previous discussion", and I don't think it's
    legal, but yes, I suspect he'll get away with it. Tax auditors are real
    clear, they exist to generate revenue. They'll estimate how much they
    can collect, and if it's less than their pay and expenses, forget it.
    Exactly how much "profit" they have to make before they'll make a move
    is a closely guarded secret, but the fact that they use that as the
    principal criteria isn't. If Steve keeps it small, there's no way
    they'll go after him.

    A couple of minutes on Google reveals the following:

    http://www.window.state.tx.us/taxinf...t.html#resale1

    The second paragraph is clear, if he *uses* it (nothing about personal
    use, either) rather than resells it, he owes tax.

    Paragraph eight lists what kind of misdemeanor or felony it is, based on
    amount.

    --
    Dan Abel
    Petaluma, California USA
    [email protected]

  8. #8
    Pete C. Guest

    Default Re: Thanks for the Resale Info


    Dan Abel wrote:
    >
    > In article <4c684e48$0$23688$[email protected]>,
    > "Bob Terwilliger" <virtualgoth@die_spammer.biz> wrote:
    >
    > > I thought this had been covered in the previous discussion: Steve was going
    > > to say that he used up everything he bought "perfecting the recipes" and
    > > "giving samples to tasting panels." As long as the quantities are modest,
    > > that ought to be plausible.[1]
    > >
    > > But.... If we *didn't* discuss that, how... how...... how did the notion get
    > > into my head? OH NO! THE VOICES! THE VOICES!
    > >
    > > Bob
    > > [1] I don't condone the scheme, but I think he'll probably get away with it.

    >
    > I don't remember the "previous discussion", and I don't think it's
    > legal, but yes, I suspect he'll get away with it. Tax auditors are real
    > clear, they exist to generate revenue. They'll estimate how much they
    > can collect, and if it's less than their pay and expenses, forget it.
    > Exactly how much "profit" they have to make before they'll make a move
    > is a closely guarded secret, but the fact that they use that as the
    > principal criteria isn't. If Steve keeps it small, there's no way
    > they'll go after him.
    >
    > A couple of minutes on Google reveals the following:
    >
    > http://www.window.state.tx.us/taxinf...t.html#resale1
    >
    > The second paragraph is clear, if he *uses* it (nothing about personal
    > use, either) rather than resells it, he owes tax.
    >
    > Paragraph eight lists what kind of misdemeanor or felony it is, based on
    > amount.
    >


    Why is it that nobody seems to comprehend that what Sqwertz is doing is
    entirely legal. All taxes on taxable items are going to be paid *period*
    and there is nothing the tax collector can complain about. The fact is
    that most of what he will be purchasing is non taxable anyway, so there
    will be no sales tax due, whether for personal use or for resale.

  9. #9
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 13:23:44 -0700, Bob Terwilliger wrote:

    > Paul wrote:
    >
    >> I'd not treat your reseller permit so lightly. Here in SoCal you can get
    >> in a lot of trouble with an agency that makes the IRS look like a bunch of
    >> fuzzy bunnies at a pet shop. When you buy, your purchases are reported to
    >> the state board of equalization and if you do not resell you can expect
    >> some very nasty treatment. The whole purpose of a reseller permits is so
    >> you resell and charge sales tax which you then send to the state. They'll
    >> yank your permit very quickly if you don't use it. And if you do not
    >> resell you will be charged a floor tax come tax time.
    >>
    >> But then again, this is you we're talking about.

    >
    > I thought this had been covered in the previous discussion: Steve was going
    > to say that he used up everything he bought "perfecting the recipes" and
    > "giving samples to tasting panels." As long as the quantities are modest,
    > that ought to be plausible.[1]


    I have claimed that I am a reseller/retailer. I am only buying non-taxable
    items (and very few of them). It will all be edible, untaxed items. If I
    resell them, they are still non-taxable here in Texas, therefore I am not
    responsible for collecting or paying any sales tax on the items I plan on
    buying (and selling to my friends at cost).

    I may eventually have to claim I made some sales and report some profits
    somewhere. But technically not.

    This is America. I'm free to run a business that makes no profit.

    -sw

    > Bob
    > [1] I don't condone the scheme, but I think he'll probably get away with it.


    That was kinda tongue-in-cheek when I did that. I was getting kinda
    carried away about that.

    -sw

  10. #10
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 15:27:32 -0700, Paul M. Cook wrote:

    > Won't work. You are responsible for paying the floor tax on whatever
    > inventory you did not resell by 12-31 of every year.


    That's California law. Call me when you're a licensed public accountant in
    the State of Texas.

    As for my inventory, it's all highly perishable. I'll pay the 5% on what I
    haven't eaten by the end of my fiscal year.

    -sw

  11. #11
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 17:01:00 -0700, Dan Abel wrote:

    > http://www.window.state.tx.us/taxinf...t.html#resale1
    >
    > The second paragraph is clear, if he *uses* it (nothing about personal
    > use, either) rather than resells it, he owes tax.


    Yes, we talked about this. It's unclear whether I would have to pay tax on
    retail food that is normally tax free, both when bought and when sold.

    If I don't find out otherwise, I'll pay the sales tax and when they audit
    me, they can give me a refund if I didn't need to pay.

    The 8% is nothing compared to the 50-80% I'll save on the select few items
    I'm planning on purchasing.

    -sw

  12. #12
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 20:08:13 -0500, Pete C. wrote:

    > Why is it that nobody seems to comprehend that what Sqwertz is doing is
    > entirely legal. All taxes on taxable items are going to be paid *period*
    > and there is nothing the tax collector can complain about. The fact is
    > that most of what he will be purchasing is non taxable anyway, so there
    > will be no sales tax due, whether for personal use or for resale.


    Thank you. I tried to say this before, and just now a few more times.

    If I was set up as a restaurant, then I would have to pay tax since I
    prepare the food and serve hot food. But as a retailer, I do not charge or
    pay tax.

    Just like the grocery store who buys a case of crackers from Nabisco and
    sells them to their customers. No tax coming or going.

    -sw

  13. #13
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 13:54:09 -0500, Sqwertz wrote:

    > I didn't expect it to come so quickly, so I didn't make it effective until
    > next quarter. So now I have to wait a gut-wrenching 2 weeks before I can
    > shop at Restaurant Depot.


    None of you tax experts didn't catch my error here? :-)

    The fiscal quarter doesn't start for 6 weeks. Duh on me.

    Looks like I'll have to file taxes earlier than expected. I was counting
    on the extra three months, but oh well.

    -sw

  14. #14
    Paul M. Cook Guest

    Default Re: Thanks for the Resale Info


    "Sqwertz" <[email protected]> wrote in message
    news:[email protected]..
    > On Sun, 15 Aug 2010 13:23:44 -0700, Bob Terwilliger wrote:
    >
    >> Paul wrote:
    >>
    >>> I'd not treat your reseller permit so lightly. Here in SoCal you can
    >>> get
    >>> in a lot of trouble with an agency that makes the IRS look like a bunch
    >>> of
    >>> fuzzy bunnies at a pet shop. When you buy, your purchases are reported
    >>> to
    >>> the state board of equalization and if you do not resell you can expect
    >>> some very nasty treatment. The whole purpose of a reseller permits is
    >>> so
    >>> you resell and charge sales tax which you then send to the state.
    >>> They'll
    >>> yank your permit very quickly if you don't use it. And if you do not
    >>> resell you will be charged a floor tax come tax time.
    >>>
    >>> But then again, this is you we're talking about.

    >>
    >> I thought this had been covered in the previous discussion: Steve was
    >> going
    >> to say that he used up everything he bought "perfecting the recipes" and
    >> "giving samples to tasting panels." As long as the quantities are modest,
    >> that ought to be plausible.[1]

    >
    > I have claimed that I am a reseller/retailer. I am only buying
    > non-taxable
    > items (and very few of them). It will all be edible, untaxed items. If I
    > resell them, they are still non-taxable here in Texas, therefore I am not
    > responsible for collecting or paying any sales tax on the items I plan on
    > buying (and selling to my friends at cost).
    >
    > I may eventually have to claim I made some sales and report some profits
    > somewhere. But technically not.
    >
    > This is America. I'm free to run a business that makes no profit.
    >


    I dare say if there is anyone who could bankrupt a business, you're the one
    for the job.

    Paul



  15. #15
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 19:16:08 -0700, Paul M. Cook wrote:

    > "Sqwertz" <[email protected]> wrote in message
    > news:[email protected]..
    >
    >> This is America. I'm free to run a business that makes no profit.
    >>

    >
    > I dare say if there is anyone who could bankrupt a business, you're the one
    > for the job.


    You're gonna back down that easy? I thought you would take you tax
    lessons a few more posts, but I guess not.

    And you have no idea of my work ethics. I tripled my salary at my last job
    in just 14 months. Which is why I was one of the 30% to get laid off (I
    have a list of everyone's salaries, I just didn't have the seniority).

    -sw

  16. #16
    Paul M. Cook Guest

    Default Re: Thanks for the Resale Info


    "Sqwertz" <[email protected]> wrote in message
    news:1exouj2y0xnho$.[email protected]..
    > On Sun, 15 Aug 2010 19:16:08 -0700, Paul M. Cook wrote:
    >
    >> "Sqwertz" <[email protected]> wrote in message
    >> news:[email protected]..
    >>
    >>> This is America. I'm free to run a business that makes no profit.
    >>>

    >>
    >> I dare say if there is anyone who could bankrupt a business, you're the
    >> one
    >> for the job.

    >
    > You're gonna back down that easy? I thought you would take you tax
    > lessons a few more posts, but I guess not.


    Care to translate that last sentence, Shakespeare?

    > And you have no idea of my work ethics. I tripled my salary at my last
    > job
    > in just 14 months. Which is why I was one of the 30% to get laid off (I
    > have a list of everyone's salaries, I just didn't have the seniority).


    Maybe you should have let your boss triple our alary and you might still be
    employed? See this is perfect you, 3 times nothing is still nothing.

    Paul



  17. #17
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 21:45:01 -0700, Paul M. Cook wrote:

    > Maybe you should have let your boss triple our alary and you might still be
    > employed? See this is perfect you, 3 times nothing is still nothing.


    Care to translate those last two sentences, Shakespeare?

    Dumbass.

    -sw

  18. #18
    Paul M. Cook Guest

    Default Re: Thanks for the Resale Info


    "Sqwertz" <[email protected]> wrote in message
    news:1l1xnxoz54xvg$.[email protected]..
    > On Sun, 15 Aug 2010 21:45:01 -0700, Paul M. Cook wrote:
    >
    >> Maybe you should have let your boss triple our alary and you might still
    >> be
    >> employed? See this is perfect you, 3 times nothing is still nothing.

    >
    > Care to translate those last two sentences, Shakespeare?
    >
    > Dumbass.



    Me? You're the one who needs these things explained. Every time. If you
    didn't confess to being a CPA, I'd have guessed.

    Paul



  19. #19
    Sqwertz Guest

    Default Re: Thanks for the Resale Info

    On Sun, 15 Aug 2010 23:41:41 -0700, Paul M. Cook wrote:

    > "Sqwertz" <[email protected]> wrote in message
    > news:1l1xnxoz54xvg$.[email protected]..
    >> On Sun, 15 Aug 2010 21:45:01 -0700, Paul M. Cook wrote:
    >>
    >>> Maybe you should have let your boss triple our alary and you might still
    >>> be
    >>> employed? See this is perfect you, 3 times nothing is still nothing.

    >>
    >> Care to translate those last two sentences, Shakespeare?
    >>
    >> Dumbass.

    >
    > Me? You're the one who needs these things explained. Every time. If you
    > didn't confess to being a CPA, I'd have guessed.


    You're boring, Paul. Especially when you get into your "childish mode"
    after making an ass out of yourself. Kinda pathetic, kinda sad.

    -sw

  20. #20
    George Guest

    Default Re: Thanks for the Resale Info

    On 8/15/2010 4:09 PM, Paul M. Cook wrote:
    > "Sqwertz"<[email protected]> wrote in message
    > news:iJW9o.23$[email protected]..
    >> I got my resale certificate yesterday, so I'm now in "business". That
    >> much easier than I anticipated since Austin doesn't have a business
    >> license
    >> requirement and I can have one granted right in my own name.
    >>
    >> And I just learned that I can file my "No Taxes Due" right over the
    >> push-button phone by calling the "no taxes due" return phone number. So
    >> these things must be pretty popular.
    >>
    >> I didn't expect it to come so quickly, so I didn't make it effective until
    >> next quarter. So now I have to wait a gut-wrenching 2 weeks before I can
    >> shop at Restaurant Depot.
    >>
    >> Here's the current ad:
    >> http://www.restaurantbyclick.com/rd/.../aug10_tex.pdf
    >>
    >> Anybody want to go haves on me on 40lbs of Kronos Gyro Meat? Only
    >> $1.50/lb
    >> after my $25 off first time buyer coupon!
    >>
    >> Anybody have any comments on the quality of beef sold there?

    >
    > I'd not treat your reseller permit so lightly. Here in SoCal you can get in
    > a lot of trouble with an agency that makes the IRS look like a bunch of
    > fuzzy bunnies at a pet shop. When you buy, your purchases are reported to
    > the state board of equalization and if you do not resell you can expect some
    > very nasty treatment. The whole purpose of a reseller permits is so you
    > resell and charge sales tax which you then send to the state. They'll yank
    > your permit very quickly if you don't use it. And if you do not resell you
    > will be charged a floor tax come tax time.
    >
    > But then again, this is you we're talking about.
    >
    > Paul
    >
    >

    That seems to be a tradition with many state tax agencies. In PA if you
    had a choice of being contacted by IRS or PA REV (The folks who issue
    sales tax permits among other things) regarding business activities you
    would definitely go with IRS.

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