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    Qthompson's Avatar
    Qthompson Posts: 1, Reputation: 1
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    #1

    Aug 28, 2008, 06:17 PM
    Tax pass throughs
    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's Avatar
    Renaissance1967 Posts: 14, Reputation: 1
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    #2

    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.
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