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Iowa’s new tax laws for buying/selling online, coming soon

OCTOBER 8, 2018 DIGITAL DICKELEAVE A COMMENT

Anything you buy off Amazon is going to become more expensive.

I do not intend to write so many website tips on Amazon, but they are smashing the news headlines for “selling products online”.

If you’re thinking of selling anything online for your business, or buying anything online then you’ll need to be aware of these new tax rules that will go into effect soon.

Chancellor Hammond’s “proposed ‘Amazon Tax’ on online retailers and President Trump’s new tariffs on Chinese goods and materials will create a ‘perfect storm’. This will lead to soaring online prices” according to this article here

If you continue reading the article linked above you see it will effect these types of items being bought and sold online:

  • electronics
  • cosmetics
  • clothing
  • nickel-cadmium batteries are used in several Apple Products

The new laws, which vary by state, allow states to require the collection of state sales tax from eCommerce sellers whether or not those businesses physically operate within a state’s borders.

According to a report linked here these online tax laws went into effect October 1st, 2018 for these states:

  • Alabama
  • Illinois
  • Indiana
  • Kentucky
  • Massachusetts
  • Minnesota
  • Michigan
  • North Dakota
  • Washington
  • Wisconsin

Similar laws are expected to go into effect in Connecticut and Iowa in the coming months. #IowaOnlineTax

In 1992 only 2% of U.S. adults had access to websites. Today, nearly 90 percent of adults do and eCommerce sales totaled roughly $453 billion in 2017, or about 10% of U.S. retail sales.

You know selling online is getting serious when you read those numbers. What are you waiting, create an online store today! Check out my other blogs to get started with a free trial of Shopify.

If you were thinking of drop shipping before, then you might want to do it now so you can see how affordable these over sea’s products are and as we know now, Trump is going to make these products more expensive to ship to USA.

Like being updated about your current tax laws? Follow my blog as I will be updating myself and all of you on the best practices to buy and sell online!

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