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Sales Tax Policy

Effect of the Internet Tax Freedom Act

Companies selling over the Internet are subject to the same sales tax collection requirements as any other retailers.  Remote sellers (including Internet retailers and catalog companies) are generally required to collect taxes where they have a physical selling presence.  If they do not have any such presence, they are not required to collect sales tax.

The Internet Tax Freedom Act became permanent law when President Obama signed the Trade Facilitation and Trade Enforcement Act of 2015 on February 24, 2016.

Please note, the Internet Tax Freedom Act (ITFA) is primarily intended to prevent state and local governments from imposing new or discriminatory taxes on internet transactions and on internet access.  ITFA does not preclude state and local governments from imposing existing sales tax collection requirements.

Our Policy

BankSupplies Inc adheres to the rules established under the Streamlined Sales Tax Project, a multiā€state effort to simply and align sales tax policies as adopted by the State of Michigan.

We do not collect sales taxes in all states.   We currently collect sales tax on orders to customers in Ohio and Michigan.

For states imposing sales or use taxes, your purchase is subject to use tax unless it is specifically exempt from taxation. Your purchase is not exempt merely because it is made over the internet or by other remote means.  Many states require purchasers to file a sales/use tax return   at the end of the year reporting all of the taxable purchases that were not taxed and   pay tax on those purchases.  Details of how to file these returns may be found at   the websites of your respective taxing authorities.

Note that many factors can change between the time you place an order and the time of credit card charge authorization, which could affect the calculation of sales taxes.   For example, tax law changes may occur between order placement and credit card charge authorization that could result in an increase or decrease in taxes charged.