VetOfTheSeas@discuss.online to Political Memes@lemmy.world · 2 days agoTotally reasonablediscuss.onlineimagemessage-square139linkfedilinkarrow-up11.32K
arrow-up11.32KimageTotally reasonablediscuss.onlineVetOfTheSeas@discuss.online to Political Memes@lemmy.world · 2 days agomessage-square139linkfedilink
minus-squareBlackLaZoR@lemmy.worldlinkfedilinkarrow-up9·11 hours agoAlso, you’re taxed on spending while businesses generally aren’t
minus-squarechilicheeselies@lemmy.worldlinkfedilinkarrow-up6·7 hours agoThat’s not really true. Payroll taxes are still a thing, and they still need to pay sales tax when purchasing materials. It’s the accounting tomfoolery that lets then get away with not paying taxes on profits.
minus-squareBlackLaZoR@lemmy.worldlinkfedilinkarrow-up1·3 hours ago sales tax when purchasing materials. AFAIK Sales tax is relatively small in US. In EU it’s a 20-25% VAT but B2B transactions are VAT free
Also, you’re taxed on spending while businesses generally aren’t
That’s not really true. Payroll taxes are still a thing, and they still need to pay sales tax when purchasing materials. It’s the accounting tomfoolery that lets then get away with not paying taxes on profits.
AFAIK Sales tax is relatively small in US. In EU it’s a 20-25% VAT but B2B transactions are VAT free