Do I pay taxes on the lot?

Sales Tax:

RIAC is a Marketplace Facilitator (as defined in the applicable regulations for each state) for purposes of collecting and submitting sales tax for each applicable state. A Marketplace Facilitator is a business that contracts with sellers to facilitate the sale of tangible goods and administers all aspects of the transaction. A Marketplace Facilitator is required to collect sales tax from the buyer and remit such sales tax to the state to which the items are shipped. The sale tax is based on the ship to address. If auction is held and the purchase is picked-up from our Bedford, TX facility, or shipped to a Texas address, the Texas sales tax of 8.25% will be collected. If auction is held and purchase is picked-up from our Rock Island, IL facility, or shipped to an Illinois address, sales tax of 8.5% will be collected. Generally, all items included on the invoice are taxable. 

To establish a tax free sale, a copy of a valid reseller’s permit or other instrument or information establishing a sales tax exemption, as required by the applicable state, must be provided to RIAC’s satisfaction. Please refer to our website, rockislandauction.com, for additional information regarding resale certificates. Any purchaser claiming a sales tax exemption yet unable to provide satisfactory proof to RIAC at the time of payment will be required to pay the applicable tax to RIAC and thereafter seek a refund from the applicable state. Buyer agrees to pay RIAC the actual amount of tax due if the incorrect amount of sales tax was collected at the time of purchase for any reason.

Sales tax is required to be collected and remitted in all states except the following:

States with no sales tax: Alaska (certain cities, counties and boroughs require RIAC to collect sales tax), Delaware, Montana, New Hampshire and Oregon.

Other: District of Columbia (DC)-RIAC does not meet the thresholds to require the collection of sales tax.