Friday, December 14, 2018
 

U.S. Supreme Court decision causes some panic for art dealers


Sales tax is usually applied based on the state in which the buyer takes ownership of the work; previously, sellers were only required to collect or pay sales tax if they had a physical presence in a state. … In June, however, the Supreme Court ruled in favour of the state of South Dakota in its case against the online retail giant Wayfair, forcing sellers to charge sales tax on out-of-state purchases and therefore shifting the responsibility on to the dealer. States are also expected to take a more active approach in pursuing this revenue.

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