Sold and Re-Sold

Today TaxMama® hears from Mike in the TaxQuips Forum, who asks a logical question.  “I sell collectible cards in NC. I collect sales tax on new product (such as a new pack of 15 cards). The question is, if I buy a single card from someone who just bought that pack of 15 new cards from me; and I collected sales tax from the customer on the purchase of the 15 cards, do I have to collect sales tax again when I sell that single card to another customer?”

Ask TaxMama

Yes Mike.

Every time you make a sale, you collect sales tax.

In your mind, treat it as buying new merchandise.

OR – don’t sell him that particular card in the first place?

And remember, you can find answers to all kinds of questions about sales taxes and other tax and business issues, free. Where? Where else? At www.TaxMama.com.

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