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Qthompson
Aug 28, 2008, 06:17 PM
I own a website that allows members to post things for sale. Buyers buy the items via our merchant services account and we forward payment to the seller less our 1.75% fee.

My question is do we need to pay taxes on the full income of the total sale or our 1.75% fee?
Renaissance1967
Aug 28, 2008, 10:29 PM
What type of taxes? sales, excise, business ?
This appears to be a state and local specific question. Contact your local jurisdiction or consult a tax professional.

If you are talking about Federal Income tax it is paid on net income after deductions less any credits or loss carryforward. Contact the IRS directly or consult a tax professional.