Are You Up-to-Date with NC Sales Tax Requirements for Auctioneers?
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Who is considered a marketplace facilitator in North Carolina?

  • An auctioneer that meets certain sales and use tax thresholds
  • A person that sells items through a marketplace regardless of physical presence or registration in North Carolina
  • A person that processes payments for items sold on a marketplace
  • A person that lists items for sale on a marketplace owned or operated by the marketplace facilitator (correct)

    • What is a marketplace-facilitated sale in North Carolina?

  • The sale of an item by a marketplace seller through any online platform
  • The sale of an item by an auctioneer through a marketplace
  • The sale of an item by a retailer through a marketplace
  • The sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace (correct)

    • Who is considered a marketplace seller in North Carolina?

  • A person that processes payments for items sold on a marketplace
  • A person that lists items for sale on a marketplace owned or operated by the marketplace facilitator
  • A person that sells or offers to sell items through a marketplace regardless of physical presence or registration in North Carolina (correct)
  • An auctioneer that meets certain sales and use tax thresholds

    • What is the responsibility of an auctioneer that is a marketplace facilitator in North Carolina?

    <p>To collect and remit sales and use tax on the sales price of marketplace-facilitated sales that meet certain thresholds</p> Signup and view all the answers

    What is the requirement for a marketplace facilitator in North Carolina regarding sales tax?

    <p>To collect and remit sales tax regardless of whether the marketplace seller meets certain conditions</p> Signup and view all the answers

    How can marketplace facilitators register for North Carolina sales and use tax?

    <p>They can use the Department’s online business registration portal or submit a completed Form NC-BR</p> Signup and view all the answers

    Do auctioneers that are already registered to collect and remit sales and use tax need to register again?

    <p>No, they do not need to register again and must include any marketplace-facilitated sales on the Form E-500</p> Signup and view all the answers

    Where can detailed information regarding North Carolina sales and use tax rates and taxability of products sourced to North Carolina be found?

    <p>On the Department’s website</p> Signup and view all the answers

    Who can be contacted for assistance regarding sales and use tax requirements for auctioneers as marketplace facilitators in North Carolina?

    <p>The Department of Revenue in North Carolina</p> Signup and view all the answers

    Who is considered a marketplace facilitator in North Carolina?

    <p>A person that lists items for sale on a marketplace owned or operated by the marketplace facilitator</p> Signup and view all the answers

    What is a marketplace-facilitated sale in North Carolina?

    <p>The sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace</p> Signup and view all the answers

    Who is considered a marketplace seller in North Carolina?

    <p>A person that sells or offers to sell items through a marketplace regardless of physical presence or registration in North Carolina</p> Signup and view all the answers

    What is the responsibility of an auctioneer that is a marketplace facilitator in North Carolina?

    <p>To collect and remit sales and use tax on the sales price of marketplace-facilitated sales that meet certain thresholds</p> Signup and view all the answers

    What is the requirement for a marketplace facilitator in North Carolina regarding sales tax?

    <p>To collect and remit sales tax regardless of whether the marketplace seller meets certain conditions</p> Signup and view all the answers

    How can marketplace facilitators register for North Carolina sales and use tax?

    <p>They can use the Department’s online business registration portal or submit a completed Form NC-BR</p> Signup and view all the answers

    Do auctioneers that are already registered to collect and remit sales and use tax need to register again?

    <p>No, they do not need to register again and must include any marketplace-facilitated sales on the Form E-500</p> Signup and view all the answers

    Where can detailed information regarding North Carolina sales and use tax rates and taxability of products sourced to North Carolina be found?

    <p>On the Department’s website</p> Signup and view all the answers

    Who can be contacted for assistance regarding sales and use tax requirements for auctioneers as marketplace facilitators in North Carolina?

    <p>The Department of Revenue in North Carolina</p> Signup and view all the answers

    Who is considered a marketplace facilitator in North Carolina?

    <p>A person who lists or makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment</p> Signup and view all the answers

    What is a marketplace-facilitated sale in North Carolina?

    <p>The sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace</p> Signup and view all the answers

    Who is considered a marketplace seller in North Carolina?

    <p>A person who sells items through a marketplace</p> Signup and view all the answers

    Are all auctioneers required to collect and remit sales and use tax on marketplace-facilitated sales in North Carolina?

    <p>No, only auctioneers that meet the definition of a marketplace facilitator and either of the thresholds must collect and remit sales and use tax on the sales price of marketplace-facilitated sales in North Carolina</p> Signup and view all the answers

    What is the definition of an auctioneer that meets the definition of a marketplace facilitator in North Carolina?

    <p>An auctioneer that lists or makes available for sale a marketplace seller's items through a marketplace owned or operated by the auctioneer and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment</p> Signup and view all the answers

    Who is liable for collecting and remitting the sales and use tax due on all marketplace-facilitated sales made by an auctioneer that is a marketplace facilitator?

    <p>The auctioneer</p> Signup and view all the answers

    What are the requirements and procedures for an auctioneer that is a marketplace facilitator to comply with in North Carolina?

    <p>The same requirements and procedures as all other retailers who are required to be registered to collect and remit North Carolina sales and use tax</p> Signup and view all the answers

    Is a marketplace facilitator required to collect and remit sales tax in North Carolina only if a marketplace seller for whom it makes a marketplace-facilitated sale meets certain conditions?

    <p>No, a marketplace facilitator is required to collect and remit sales tax as required by N.C. Gen. Stat. § 105-164.4J regardless of whether a marketplace seller for whom it makes a marketplace-facilitated sale meets certain conditions</p> Signup and view all the answers

    How can marketplace facilitators register for North Carolina sales and use tax?

    <p>By submitting a completed Form NC-BR, Business Registration Application for Income Tax Withholding, Sales and Use Tax, and Other Taxes and Service Charge, available on the Department’s website, with no fee</p> Signup and view all the answers

    Who is responsible for collecting and remitting sales and use tax on marketplace-facilitated sales in North Carolina?

    <p>Auctioneers who meet the definition of a marketplace facilitator and meet certain thresholds</p> Signup and view all the answers

    What is the definition of a marketplace facilitator in North Carolina?

    <p>A person that lists or otherwise makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment</p> Signup and view all the answers

    What is a marketplace-facilitated sale in North Carolina?

    <p>The sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace</p> Signup and view all the answers

    Who is considered a marketplace seller in North Carolina?

    <p>A person that sells or offers to sell items through a marketplace regardless of whether the person has a physical presence in North Carolina or is registered as a retailer in North Carolina</p> Signup and view all the answers

    Is an auctioneer that does not meet the definition of a marketplace facilitator required to collect and remit sales and use tax on marketplace-facilitated sales in North Carolina?

    <p>No</p> Signup and view all the answers

    What is the liability of an auctioneer that is a marketplace facilitator and makes sales of tangible personal property, digital property, and services sourced to North Carolina?

    <p>The auctioneer is considered the retailer of each marketplace-facilitated sale it makes and is liable for collecting and remitting the sales and use tax due on all such sales</p> Signup and view all the answers

    What are the requirements for an auctioneer that is a marketplace facilitator in North Carolina?

    <p>They are required to comply with the same requirements and procedures as all other retailers who are required to be registered to collect and remit North Carolina sales and use tax</p> Signup and view all the answers

    Is a marketplace facilitator required to collect and remit sales tax in North Carolina if a marketplace seller for whom it makes a marketplace-facilitated sale does not meet certain conditions?

    <p>Yes</p> Signup and view all the answers

    How can marketplace facilitators register for North Carolina sales and use tax?

    <p>They can use the Department’s online business registration portal or submit a completed Form NC-BR, Business Registration Application for Income Tax Withholding, Sales and Use Tax, and Other Taxes and Service Charge, available on the Department’s website, with no fee</p> Signup and view all the answers

    Which of the following is true about auctioneers that meet the definition of a marketplace facilitator in North Carolina?

    <p>They are required to collect and remit sales and use tax on the sales price of marketplace-facilitated sales.</p> Signup and view all the answers

    What is a marketplace seller in North Carolina?

    <p>A person that sells or offers to sell items through a marketplace regardless of whether the person has a physical presence in North Carolina or is registered as a retailer in North Carolina.</p> Signup and view all the answers

    What is the responsibility of an auctioneer that is a marketplace facilitator in North Carolina?

    <p>To collect and remit sales and use tax on the sales price of only marketplace-facilitated sales made through the marketplace.</p> Signup and view all the answers

    What is a marketplace-facilitated sale in North Carolina?

    <p>The sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace.</p> Signup and view all the answers

    What is the requirement for a marketplace facilitator in North Carolina regarding sales tax?

    <p>To collect and remit sales tax as required by N.C. Gen. Stat. § 105-164.4J regardless of whether a marketplace seller for whom it makes a marketplace-facilitated sale meets certain conditions.</p> Signup and view all the answers

    How can marketplace facilitators register for North Carolina sales and use tax?

    <p>By using the Department’s online business registration portal or submitting a completed Form NC-BR with no fee.</p> Signup and view all the answers

    What is the requirement for an auctioneer that is a marketplace facilitator in North Carolina regarding registration for sales and use tax?

    <p>They do not need to register again if they are already registered to collect and remit sales and use tax.</p> Signup and view all the answers

    What is a marketplace facilitator in North Carolina?

    <p>A person that lists or otherwise makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment.</p> Signup and view all the answers

    What is the liability of an auctioneer that is a marketplace facilitator in North Carolina for sales and use tax?

    <p>They are liable for collecting and remitting sales and use tax on the sales price of only marketplace-facilitated sales made through the marketplace.</p> Signup and view all the answers

    What is a marketplace facilitator in North Carolina?

    <p>A person that lists or otherwise makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment</p> Signup and view all the answers

    What is a marketplace-facilitated sale in North Carolina?

    <p>The sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace</p> Signup and view all the answers

    What is a marketplace seller in North Carolina?

    <p>A person that sells or offers to sell items through a marketplace</p> Signup and view all the answers

    What is the responsibility of an auctioneer that is a marketplace facilitator in North Carolina?

    <p>To collect and remit sales and use tax on the sales price of marketplace-facilitated sales in North Carolina</p> Signup and view all the answers

    What is the requirement for a marketplace facilitator in North Carolina regarding sales tax?

    <p>To collect and remit sales tax regardless of whether the marketplace seller for whom it makes a marketplace-facilitated sale meets certain conditions</p> Signup and view all the answers

    How can marketplace facilitators register for North Carolina sales and use tax?

    <p>By submitting a completed Form NC-BR with no fee</p> Signup and view all the answers

    Do auctioneers that are already registered to collect and remit sales and use tax need to register again?

    <p>No, they do not need to register again</p> Signup and view all the answers

    Where can detailed information regarding North Carolina sales and use tax rates and taxability of products sourced to North Carolina be found?

    <p>On the Department of Revenue's website</p> Signup and view all the answers

    What is the definition of an auctioneer that is not a marketplace facilitator in North Carolina?

    <p>An auctioneer that does not meet the definition of a marketplace facilitator</p> Signup and view all the answers

    Is a marketplace facilitator required to comply with the same requirements and procedures as all other retailers who are required to be registered to collect and remit North Carolina sales and use tax?

    <p>Yes, a marketplace facilitator is required to comply with the same requirements and procedures as all other retailers who are required to be registered to collect and remit North Carolina sales and use tax</p> Signup and view all the answers

    Study Notes

    Sales and Use Tax Requirements for Auctioneers as Marketplace Facilitators in North Carolina

    • Effective February 1, 2020, an auctioneer that meets the definition of a marketplace facilitator and either of the thresholds must collect and remit sales and use tax on the sales price of marketplace-facilitated sales in North Carolina.
    • A marketplace facilitator is a person that lists or otherwise makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment.
    • A marketplace-facilitated sale is the sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace.
    • A marketplace seller is a person that sells or offers to sell items through a marketplace regardless of whether the person has a physical presence in North Carolina or is registered as a retailer in North Carolina.
    • An auctioneer that does not meet the definition of a marketplace facilitator is not acting as a marketplace facilitator.
    • An auctioneer that is a marketplace facilitator and makes sales of tangible personal property, digital property, and services sourced to North Carolina and that meets either the gross sales or separate transaction threshold is considered the retailer of each marketplace-facilitated sale it makes and is liable for collecting and remitting the sales and use tax due on all such sales.
    • An auctioneer that is a marketplace facilitator is required to comply with the same requirements and procedures as all other retailers who are required to be registered to collect and remit North Carolina sales and use tax.
    • A marketplace facilitator is required to collect and remit sales tax as required by N.C. Gen. Stat. § 105-164.4J regardless of whether a marketplace seller for whom it makes a marketplace-facilitated sale meets certain conditions.
    • To register for North Carolina sales and use tax, marketplace facilitators can use the Department’s online business registration portal or submit a completed Form NC-BR, Business Registration Application for Income Tax Withholding, Sales and Use Tax, and Other Taxes and Service Charge, available on the Department’s website, with no fee.
    • An auctioneer already registered to collect and remit sales and use tax does not need to register a second time and must include any marketplace-facilitated sales on the Form E-500, Sales and Use Tax Return.
    • Detailed information regarding North Carolina sales and use tax rates and taxability of products sourced to North Carolina is available on the Department’s website.
    • The Department of Revenue in North Carolina can be contacted for assistance regarding sales and use tax requirements for auctioneers as marketplace facilitators.

    Sales and Use Tax Requirements for Auctioneers as Marketplace Facilitators in North Carolina

    • Effective February 1, 2020, an auctioneer that meets the definition of a marketplace facilitator and either of the thresholds must collect and remit sales and use tax on the sales price of marketplace-facilitated sales in North Carolina.
    • A marketplace facilitator is a person that lists or otherwise makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment.
    • A marketplace-facilitated sale is the sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace.
    • A marketplace seller is a person that sells or offers to sell items through a marketplace regardless of whether the person has a physical presence in North Carolina or is registered as a retailer in North Carolina.
    • An auctioneer that does not meet the definition of a marketplace facilitator is not acting as a marketplace facilitator.
    • An auctioneer that is a marketplace facilitator and makes sales of tangible personal property, digital property, and services sourced to North Carolina and that meets either the gross sales or separate transaction threshold is considered the retailer of each marketplace-facilitated sale it makes and is liable for collecting and remitting the sales and use tax due on all such sales.
    • An auctioneer that is a marketplace facilitator is required to comply with the same requirements and procedures as all other retailers who are required to be registered to collect and remit North Carolina sales and use tax.
    • A marketplace facilitator is required to collect and remit sales tax as required by N.C. Gen. Stat. § 105-164.4J regardless of whether a marketplace seller for whom it makes a marketplace-facilitated sale meets certain conditions.
    • To register for North Carolina sales and use tax, marketplace facilitators can use the Department’s online business registration portal or submit a completed Form NC-BR, Business Registration Application for Income Tax Withholding, Sales and Use Tax, and Other Taxes and Service Charge, available on the Department’s website, with no fee.
    • An auctioneer already registered to collect and remit sales and use tax does not need to register a second time and must include any marketplace-facilitated sales on the Form E-500, Sales and Use Tax Return.
    • Detailed information regarding North Carolina sales and use tax rates and taxability of products sourced to North Carolina is available on the Department’s website.
    • The Department of Revenue in North Carolina can be contacted for assistance regarding sales and use tax requirements for auctioneers as marketplace facilitators.

    Sales and Use Tax Requirements for Auctioneers as Marketplace Facilitators in North Carolina

    • Effective February 1, 2020, an auctioneer that meets the definition of a marketplace facilitator and either of the thresholds must collect and remit sales and use tax on the sales price of marketplace-facilitated sales in North Carolina.
    • A marketplace facilitator is a person that lists or otherwise makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collects the sales price or purchase price of a marketplace seller's items or otherwise processes payment.
    • A marketplace-facilitated sale is the sale of an item by a marketplace facilitator on behalf of a marketplace seller that occurs through a marketplace.
    • A marketplace seller is a person that sells or offers to sell items through a marketplace regardless of whether the person has a physical presence in North Carolina or is registered as a retailer in North Carolina.
    • An auctioneer that does not meet the definition of a marketplace facilitator is not acting as a marketplace facilitator.
    • An auctioneer that is a marketplace facilitator and makes sales of tangible personal property, digital property, and services sourced to North Carolina and that meets either the gross sales or separate transaction threshold is considered the retailer of each marketplace-facilitated sale it makes and is liable for collecting and remitting the sales and use tax due on all such sales.
    • An auctioneer that is a marketplace facilitator is required to comply with the same requirements and procedures as all other retailers who are required to be registered to collect and remit North Carolina sales and use tax.
    • A marketplace facilitator is required to collect and remit sales tax as required by N.C. Gen. Stat. § 105-164.4J regardless of whether a marketplace seller for whom it makes a marketplace-facilitated sale meets certain conditions.
    • To register for North Carolina sales and use tax, marketplace facilitators can use the Department’s online business registration portal or submit a completed Form NC-BR, Business Registration Application for Income Tax Withholding, Sales and Use Tax, and Other Taxes and Service Charge, available on the Department’s website, with no fee.
    • An auctioneer already registered to collect and remit sales and use tax does not need to register a second time and must include any marketplace-facilitated sales on the Form E-500, Sales and Use Tax Return.
    • Detailed information regarding North Carolina sales and use tax rates and taxability of products sourced to North Carolina is available on the Department’s website.
    • The Department of Revenue in North Carolina can be contacted for assistance regarding sales and use tax requirements for auctioneers as marketplace facilitators.

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    Related Documents

    North Carolina Important Sales Tax Notice for Auctioneers PDF

    Description

    Test your knowledge on the sales and use tax requirements for auctioneers as marketplace facilitators in North Carolina with this informative quiz. Learn about the definition of a marketplace facilitator, what constitutes a marketplace-facilitated sale, and the thresholds that determine if an auctioneer must collect and remit sales tax. Discover the registration process and requirements for compliance with North Carolina's sales and use tax laws. This quiz is a must for auctioneers operating in North Carolina or anyone interested in understanding the

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