I’m buying a laptop online–will I have to pay sales tax?

There are currently five states that do not have a sales tax: Alaska, Delaware, Montana, New Hampshire, and Oregon. If you live in one of the otherĀ 45 states, or in the District of Columbia, you’re probably legally responsible for paying some formĀ of sales or use tax on your laptop purchase. And, to complicate matters even […]

Can I deduct state sales tax on my federal income tax return?

If you itemize deductions on Schedule A of IRS Form 1040, you are generally able to deduct state and local taxes, including income tax, real property tax, and personal property tax. For 2011, if it works to your benefit, you can elect to deduct state and local general sales tax in lieu of state and […]

E-Commerce and Sales Tax

If an online business has a physical location in a certain state, such as a store, business office, or warehouse, it must collect sales tax from customers in that state. If a business does not have a physical presence in a state, it is not required to collect sales tax for sales into that state. […]