Yard Sales Hosted by a Thrift Store are Taxable in North Carolina

Monday, April 17th, 2017

 
 
A yard sale.
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North Carolina
Retail

The North Carolina Department of Revenue recently ruled that proceeds from yard sales are not exempt when the seller is a retailer in the business of making retail sales.

The taxpayer is a thrift store that receives non-cash contributions from the public including clothing, household goods, furniture and other miscellaneous goods and supplies. The thrift store sells surplus inventory and items in danger of expiring at yard sales. None of the items sold are purchased by the thrift store, they are all donated items.

North Carolina taxes retail sales made by retailers within the state. The Department of Revenue concluded that since the thrift store was a retailer, the yard sale transactions were taxable retail sales.

https://www.ttrus.com/sites/default/files/nc/SUPLR2016-0006.pdf


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Transaction (buying or selling things), Tax (the tax on this activity), Resources (our people, our website, our support services) - TTR, Inc.

TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.

TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.

Please visit TTR on the web at www.ttrus.com or call 866.578.8193.

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