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eleganzajewels
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PostPosted: Fri Feb 16, 2007 3:32 pm    Post subject: Reply with quote

Absolutely right, BTM! And while it should worry one to collect taxes without a license, I'd be much more askeered of the IRS, and completely dodging them by not collecting any taxes at all!
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zickit



Posts: 21857

PostPosted: Fri Feb 16, 2007 4:39 pm    Post subject: Reply with quote

eleganzajewels wrote:
Absolutely right, BTM! And while it should worry one to collect taxes without a license, I'd be much more askeered of the IRS, and completely dodging them by not collecting any taxes at all!


True - however, without a license they can not possible pay the collected sales tax to the state. And that will get them some costly legal bills and fines.
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eleganzajewels
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PostPosted: Fri Feb 16, 2007 6:31 pm    Post subject: Reply with quote

And don't forget possibly jail time; tax evasion is a felony - it's how they caught Capone!
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zickit



Posts: 21857

PostPosted: Fri Feb 16, 2007 7:12 pm    Post subject: Reply with quote

eleganzajewels wrote:
And don't forget possibly jail time; tax evasion is a felony - it's how they caught Capone!

Well jail time for not reporting YOUR INCOME TAX
but I would think it's not to common on sales tax. UNLESS you have collected thousands and thousands of dollars in sales tax.
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eleganzajewels
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PostPosted: Fri Feb 16, 2007 8:04 pm    Post subject: Reply with quote

I'm pretty sure the majority of people who are not reporting and paying sales tax are also not reporting and paying income tax on their sales...capice? If you're sitting in jail, whether it's for failure to comply with sales taxation laws or income tax laws, it's all the same thing. You'll end up sitting in a dank cell Sad

Bet your bottom dollar if you get caught on the sales tax, the income tax will get scrutinized and audited shortly.

Moral of the story: start your business the right way, follow the laws and regulations of your state and the IRS in all regards, and don't rely on the 'I didn't know' excuse - it won't fly.
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