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

  • An individual who conducts auctions
  • An auctioneer who lists or makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator (correct)
  • A person who provides transportation services for auction items
  • A person who attends auctions and purchases items for resale

    • What is the threshold for a marketplace facilitator to collect and remit sales and use tax on taxable marketplace-facilitated sales in North Carolina?

  • Gross sales in excess of $150,000 or 300 or more separate transactions
  • Gross sales in excess of $200,000 or 500 or more separate transactions
  • Gross sales in excess of $100,000 or 200 or more separate transactions (correct)
  • Gross sales in excess of $50,000 or 100 or more separate transactions

    • What is the responsibility of an auctioneer who meets the definition of a marketplace facilitator in North Carolina?

  • Conducting auctions
  • Providing transportation services for auction items
  • Collecting and remitting sales and use tax on taxable marketplace-facilitated sales (correct)
  • Attending auctions and purchasing items for resale

    • Are auctioneers who only call bids at an event considered marketplace facilitators in North Carolina?

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

    What type of sales are auctioneers liable for collecting and remitting North Carolina sales and use tax on?

    <p>Sales of new or used household possessions, equipment, and tangible personal property at estate sales or auctions sourced to North Carolina</p> Signup and view all the answers

    What form can an auctioneer accept in lieu of a Form E-595E for sales solely for the purpose of export to a foreign country?

    <p>Form E-599C, Purchaser's Affidavit of Export</p> Signup and view all the answers

    What is the acceptable proof of transportation and delivery to a point outside North Carolina?

    <p>A waybill or bill of lading, an insurance or registry receipt issued by the United States Postal Service, or a signed trip sheet</p> Signup and view all the answers

    What is the requirement for retailers to file a Sales and Use Tax Return in North Carolina?

    <p>Quarterly, monthly, or monthly with prepayment basis depending on the retailer's total monthly sales and use tax liability</p> Signup and view all the answers

    Are auctioneers required to collect and remit sales tax for other states if they sell products for delivery into those states?

    <p>Yes, and they should contact each state to determine their requirements</p> Signup and view all the answers

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

    <p>An auctioneer who lists or makes available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator</p> Signup and view all the answers

    What is the threshold for a marketplace facilitator to collect and remit sales and use tax on taxable marketplace-facilitated sales in North Carolina?

    <p>Gross sales in excess of $100,000 or 200 or more separate transactions</p> Signup and view all the answers

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

    <p>Collecting and remitting sales and use tax on taxable marketplace-facilitated sales</p> Signup and view all the answers

    Are auctioneers who only call bids at an event considered marketplace facilitators in North Carolina?

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

    What type of sales are auctioneers liable for collecting and remitting North Carolina sales and use tax on?

    <p>Sales of new or used household possessions, equipment, and tangible personal property at estate sales or auctions sourced to North Carolina</p> Signup and view all the answers

    What form can an auctioneer accept in lieu of a Form E-595E for sales solely for the purpose of export to a foreign country?

    <p>Form E-599C, Purchaser's Affidavit of Export</p> Signup and view all the answers

    What is the acceptable proof of transportation and delivery to a point outside North Carolina?

    <p>A waybill or bill of lading, an insurance or registry receipt issued by the United States Postal Service, or a signed trip sheet</p> Signup and view all the answers

    What is the requirement for retailers to file a Sales and Use Tax Return in North Carolina?

    <p>Quarterly, monthly, or monthly with prepayment basis depending on the retailer's total monthly sales and use tax liability</p> Signup and view all the answers

    Are auctioneers required to collect and remit sales tax for other states if they sell products for delivery into those states?

    <p>Yes, and they should contact each state to determine their requirements</p> Signup and view all the answers

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

    <p>Only auctioneers who meet the definition of a marketplace facilitator</p> Signup and view all the answers

    What makes an auctioneer a marketplace facilitator in North Carolina?

    <p>Listing or making available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collecting the sales price or purchase price of a marketplace seller's items or otherwise processing payment</p> Signup and view all the answers

    What is the threshold for a marketplace facilitator to be required to collect and remit sales and use tax on taxable marketplace-facilitated sales in North Carolina?

    <p>Gross sales in excess of $100,000 or 200 or more separate transactions in the previous or current calendar year</p> Signup and view all the answers

    When are auctioneers liable for collecting and remitting sales and use tax on taxable marketplace-facilitated sales in North Carolina?

    <p>On a prospective basis once the threshold has been met</p> Signup and view all the answers

    Are auctioneers who only call bids and do not conduct other activities at an event considered marketplace facilitators in North Carolina?

    <p>No, they are not</p> Signup and view all the answers

    Are auctioneers liable for collecting and remitting North Carolina sales and use tax on sales of new or used household possessions, equipment, and tangible personal property at estate sales or auctions sourced to North Carolina?

    <p>Yes, unless the sale is exempt or supported by a properly completed Form E-595E</p> Signup and view all the answers

    Are auctioneers required to register for North Carolina sales and use tax?

    <p>Yes, they are</p> Signup and view all the answers

    How often are retailers required to file a Sales and Use Tax Return in North Carolina?

    <p>On a quarterly, monthly, or monthly with prepayment basis depending on the retailer's total monthly sales and use tax liability</p> Signup and view all the answers

    Are auctioneers required to collect and remit sales tax for other states?

    <p>They may be required to do so if they sell products for delivery into those states and should contact each state to determine their requirements</p> Signup and view all the answers

    What is the threshold for a marketplace facilitator to collect and remit sales and use tax on taxable marketplace-facilitated sales in North Carolina?

    <p>Gross sales in excess of $100,000</p> Signup and view all the answers

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

    <p>An individual 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 the responsibility of an auctioneer who meets the definition of a marketplace facilitator in North Carolina?

    <p>To collect and remit sales and use tax on taxable marketplace-facilitated sales once the threshold has been met</p> Signup and view all the answers

    Are auctioneers who only call bids at an event considered marketplace facilitators in North Carolina?

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

    What type of sales are auctioneers liable for collecting and remitting North Carolina sales and use tax on?

    <p>Sales of new or used household possessions, equipment, and tangible personal property at estate sales or auctions sourced to North Carolina</p> Signup and view all the answers

    What is the requirement for retailers to file a Sales and Use Tax Return in North Carolina?

    <p>Quarterly basis</p> Signup and view all the answers

    Are auctioneers required to collect and remit sales tax for other states if they sell products for delivery into those states?

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

    What form can an auctioneer accept in lieu of a Form E-595E for sales solely for the purpose of export to a foreign country?

    <p>Form E-599C, Purchaser's Affidavit of Export</p> Signup and view all the answers

    What is the acceptable proof of transportation and delivery to a point outside North Carolina?

    <p>A signed trip sheet</p> Signup and view all the answers

    Study Notes

    FAQs for Auctioneers on North Carolina Sales and Use Tax Obligations

    • Effective February 1, 2020, auctioneers who meet the definition of a marketplace facilitator are liable for collecting and remitting sales and use tax on taxable marketplace-facilitated sales.
    • Auctioneers are considered marketplace facilitators if they list or make available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collect the sales price or purchase price of a marketplace seller's items or otherwise process payment.
    • A marketplace facilitator that makes sales sourced to North Carolina for the previous or current calendar year that meets the threshold of either gross sales in excess of $100,000 or 200 or more separate transactions is required to collect and remit sales and use tax.
    • Auctioneers that meet the definition of a marketplace facilitator are liable for collecting and remitting sales and use tax on taxable marketplace-facilitated sales on a prospective basis once the threshold has been met.
    • Auctioneers that only call bids and do not conduct other activities at an event are not considered marketplace facilitators and are not required to collect and remit sales and use tax for the event.
    • Auctioneers are liable for collecting and remitting North Carolina sales and use tax on sales of new or used household possessions, equipment, and tangible personal property at estate sales or auctions sourced to North Carolina, unless the sale is exempt or supported by a properly completed Form E-595E.
    • Auctioneers are also liable for collecting and remitting North Carolina sales and use tax on sales of farm machinery and equipment at estate sales or auctions sourced to North Carolina, unless the sale is exempt or supported by a properly completed Form E-595E.
    • Auctioneers are required to register for North Carolina sales and use tax and may do so through the Department's online business registration portal or by submitting a completed Form NC-BR.
    • Retailers are required to file a Sales and Use Tax Return on a quarterly, monthly, or monthly with prepayment basis depending on the retailer's total monthly sales and use tax liability.
    • Auctioneers may be required to collect and remit sales tax for other states if they sell products for delivery into those states and should contact each state to determine their requirements.
    • Acceptable proof of transportation and delivery to a point outside North Carolina includes a waybill or bill of lading, an insurance or registry receipt issued by the United States Postal Service, or a signed trip sheet.
    • If the purchaser presents a Form E-599C, Purchaser's Affidavit of Export, the auctioneer may accept it in lieu of a Form E-595E, Streamlined Sales and Use Tax Certificate of Exemption, for sales solely for the purpose of export to a foreign country.

    FAQs for Auctioneers on North Carolina Sales and Use Tax Obligations

    • Effective February 1, 2020, auctioneers who meet the definition of a marketplace facilitator are liable for collecting and remitting sales and use tax on taxable marketplace-facilitated sales.
    • Auctioneers are considered marketplace facilitators if they list or make available for sale a marketplace seller's items through a marketplace owned or operated by the marketplace facilitator and collect the sales price or purchase price of a marketplace seller's items or otherwise process payment.
    • A marketplace facilitator that makes sales sourced to North Carolina for the previous or current calendar year that meets the threshold of either gross sales in excess of $100,000 or 200 or more separate transactions is required to collect and remit sales and use tax.
    • Auctioneers that meet the definition of a marketplace facilitator are liable for collecting and remitting sales and use tax on taxable marketplace-facilitated sales on a prospective basis once the threshold has been met.
    • Auctioneers that only call bids and do not conduct other activities at an event are not considered marketplace facilitators and are not required to collect and remit sales and use tax for the event.
    • Auctioneers are liable for collecting and remitting North Carolina sales and use tax on sales of new or used household possessions, equipment, and tangible personal property at estate sales or auctions sourced to North Carolina, unless the sale is exempt or supported by a properly completed Form E-595E.
    • Auctioneers are also liable for collecting and remitting North Carolina sales and use tax on sales of farm machinery and equipment at estate sales or auctions sourced to North Carolina, unless the sale is exempt or supported by a properly completed Form E-595E.
    • Auctioneers are required to register for North Carolina sales and use tax and may do so through the Department's online business registration portal or by submitting a completed Form NC-BR.
    • Retailers are required to file a Sales and Use Tax Return on a quarterly, monthly, or monthly with prepayment basis depending on the retailer's total monthly sales and use tax liability.
    • Auctioneers may be required to collect and remit sales tax for other states if they sell products for delivery into those states and should contact each state to determine their requirements.
    • Acceptable proof of transportation and delivery to a point outside North Carolina includes a waybill or bill of lading, an insurance or registry receipt issued by the United States Postal Service, or a signed trip sheet.
    • If the purchaser presents a Form E-599C, Purchaser's Affidavit of Export, the auctioneer may accept it in lieu of a Form E-595E, Streamlined Sales and Use Tax Certificate of Exemption, for sales solely for the purpose of export to a foreign country.

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    Related Documents

    NCDOR Auctioneer Sales Tax FAQs PDF

    Description

    Are you an auctioneer in North Carolina? Do you know your sales and use tax obligations? Take this quiz to test your knowledge on the latest tax laws and regulations for auctioneers in North Carolina. Learn about your responsibilities as a marketplace facilitator, when to collect and remit sales tax, and how to properly register for sales and use tax. Get ready to boost your understanding of North Carolina sales and use tax obligations for auctioneers!

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