Financing, tax rates, and accounting
I have an Etsy shop and would like to start a Shopify website. Etsy currently collects and remits sales tax for me on Etsy. I am prepared to do it myself on Shopify but i have just recently learned of economic nexus. This means once I meet certain thresholds I have to pay in certain states. Do I combine my Etsy and Shopify sales totals and revenue totals for this? or just Shopify totals?
Hi @thelovingbible,
I believe that tax authorities in US states will consider all of your sales made to customers in their state, irrespective of the platforms you have used to make those sales. You'll certainly want to keep track of the sales you're making via Etsy, Shopify, and any other platforms you sell on when doing your tax calculations each year. You can find more information about US tax liabilities on our Help Center, but if you are unsure of your liabilities I'd recommend speaking with a tax professional to ensure you are meeting your tax obligations.
Victor | Social Care @ Shopify
- Was my reply helpful? Click Like to let me know!
- Was your question answered? Mark it as an Accepted Solution
- To learn more visit the Shopify Help Center or the Shopify Blog
Dropshipping, a high-growth, $226 billion-dollar industry, remains a highly dynamic bus...
By JasonH Nov 27, 2024Hey Community! It’s time to share some appreciation and celebrate what we have accomplis...
By JasonH Nov 14, 2024In today’s interview, we sat down with @BSS-Commerce to discuss practical strategies f...
By JasonH Nov 13, 2024