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Sales Tax, Restocking Fees and Refunds
Sales and use tax is complicated enough. Ecommerce shops have to determine whether they have a nexus in all the states they ship to, keep track of sales tax holidays for those states and figure out the complexities of a state’s sales tax exemption rules. However, what happens to the sales tax when a customer returns an item, especially if the vendor charges restocking fees? Accounting for restocking fees is an important aspect of any retail business. Here is a look at what retailers need to keep in mind when these actions take place. According to Sales Tax Support, sales… Read More