VetOfTheSeas@discuss.online to Political Memes@lemmy.world · 2 months agoTotally reasonablediscuss.onlineimagemessage-square154linkfedilinkarrow-up11.37Karrow-down124
arrow-up11.35Karrow-down1imageTotally reasonablediscuss.onlineVetOfTheSeas@discuss.online to Political Memes@lemmy.world · 2 months agomessage-square154linkfedilink
minus-squareBlackLaZoR@lemmy.worldlinkfedilinkarrow-up10arrow-down1·2 months agoAlso, you’re taxed on spending while businesses generally aren’t
minus-squarechilicheeselies@lemmy.worldlinkfedilinkarrow-up6·2 months 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-up1arrow-down2·2 months 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