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Ecommerce Tax FAQ

Fueled by COVID, the Ecommerce segment saw 19% sales growth in 2020 and shows no signs of stopping. With more and more businesses moving to Ecommerce, there are a lot of complex tax-related issues and questions that arise. Here are just a few of the most commonly asked questions for Ecommerce-related businesses.

Biggest Mistakes Ecommerce Store Owners Make When Filing

The biggest mistake eCommerce store owners make is not thinking about the complexities of sales tax. Different states and counties have different rules and rates so it is important to be aware of these and have the right systems in place.


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Calculating Sales Taxes for an Ecommerce Store in NYC

When calculating sales taxes for an eCommerce store in NYC, it is important you understand what you are doing, or seek counsel from somebody who does, because every county has its own rules and rates.


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Do Ecommerce companies based in NYC have to pay New York City Taxes?

Any business, eCommerce or not, based in NYC is going to have to pay some kind of city tax. Regardless of where your business is located, there is a fine line between sales and income tax and it’s important to be aware of that.


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How can NYC Ecommerce Store owners reduce their personal income taxes?

In order for eCommerce store owners to reduce personal income taxes, it comes down to planning ahead and staying organized. If you look at your books and records monthly, have regular meetings with a trusted accountant, and make decisions on future plans, you will save money.


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If my Ecommerce company operates out of NYC, can it be incorporated in another state?

If an eCommerce company operates out of NYC, you are able to be incorporated in another state, but this is not going to save you taxes. You should have a consultation with a CPA and an attorney because there is a whole legal side to consider.


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If my Ecommerce Store did not profit, do I need to file New York or Federal Taxes?

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Do Ecommerce Stores need to file taxes quarterly?

If you have sales or payroll taxes, those are typically quarterly, sometimes monthly. If you have income taxes, those are an annual filing.


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What are the deadlines for Ecommerce Stores to file taxes?

When it comes to deadlines, it depends on what entity your business is. In this video, learn the different deadlines for the most popular types of entities.


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How to Choose the Best NYC Ecommerce Tax Accountant Specialist

When it comes to eCommerce stores or businesses in NYC, owners are going to want to work with the right New York City accountant. With the right CPA tax accountant, they can keep you up to date and informed on the many pieces to ensure you file your taxes correctly.


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What is the best business structure for an Ecommerce store to save money on taxes?

“When it comes to eCommerce, the first question you should be asking yourself is, “”Where can I base myself out of?”” Learn the best business structures for eCommerce stores in order to save money on their taxes.”


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How to Find an Ecommerce Tax Specialist

As an eCommerce business, you are shipping all over the nation. It is important that you have an accountant who is knowledgeable in these different jurisdictions and understands the different software that is used throughout the nation.


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