Ecommerce Tax FAQ

The biggest mistake eCommerce store owners make is not thinking about the complexities of sales tax. Different states and counties have different rules and rates so it is important to be aware of these and have the right systems in place.

When calculating sales taxes for an eCommerce store in NYC, it is important you understand what you are doing, or seek counsel from somebody who does, because every county has its own rules and rates.

Any business, eCommerce or not, based in NYC is going to have to pay some kind of city tax. Regardless of where your business is located, there is a fine line between sales and income tax and it’s important to be aware of that.

In order for eCommerce store owners to reduce personal income taxes, it comes down to planning ahead and staying organized. If you look at your books and records monthly, have regular meetings with a trusted accountant, and make decisions on future plans, you will save money.

If an eCommerce company operates out of NYC, you are able to be incorporated in another state, but this is not going to save you taxes. You should have a consultation with a CPA and an attorney because there is a whole legal side to consider.

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If you have sales or payroll taxes, those are typically quarterly, sometimes monthly. If you have income taxes, those are an annual filing.

When it comes to deadlines, it depends on what entity your business is. In this video, learn the different deadlines for the most popular types of entities.

When it comes to eCommerce stores or businesses in NYC, owners are going to want to work with the right New York City accountant. With the right CPA tax accountant, they can keep you up to date and informed on the many pieces to ensure you file your taxes correctly.

“When it comes to eCommerce, the first question you should be asking yourself is, “”Where can I base myself out of?”” Learn the best business structures for eCommerce stores in order to save money on their taxes.”

As an eCommerce business, you are shipping all over the nation. It is important that you have an accountant who is knowledgeable in these different jurisdictions and understands the different software that is used throughout the nation.