Getting equipment through funding..

[whitewater]

OK here is a tip!

When getting quotes for Auto press and all the things related, remember to get the quote that includes sales tax and shipping!

Not seeing this ahead of time is costing me a fortune.. Its coming out of my pocket which i really did not plan on. It sucks.

I would have though that if I asked for a quote it would include the taxes and shipping. I do when I send out a quote.

So since i receved funding for a certain amount, It comes out of my pocket. I guess its my fault. It is my first time doing this , and guess i learned my lesson.

[blue moon]

OK here is a tip!

When getting quotes for Auto press and all the things related, remember to get the quote that includes sales tax and shipping!

Not seeing this ahead of time is costing me a fortune.. Its coming out of my pocket which i really did not plan on. It sucks.

I would have though that if I asked for a quote it would include the taxes and shipping. I do when I send out a quote.

So since i receved funding for a certain amount, It comes out of my pocket. I guess its my fault. It is my first time doing this , and guess i learned my lesson.

did you try going back and asking for adjustment? Not sure if it can be done, but it might be worth trying . . .

pierre

[whitewater]

i was going to, in the beginning, but I had just submitted everything and took time, then i would have to do it all over again...I cant keep up with my orders ads it is, and i prob would have been ok if it was just the one thing, but it snowballed..LOL

[chubsetc]

I have never been taxed on my equipment purchases, what were you taxed for?

NYS Tax code states that! "Purchases of machinery or equipment used directly and predominantly in the production process are exempt from both New York State and local Sales and Use taxes.". It also states that in the event that assembly and installation need to be done on site because the machinery is too large to ship whole that is also exempt from sales and use taxes.

[ZooCity]

What type of financing?  If it's a straight bank loan under a certain amount you should be able to adjust easily.  SBA loans, forget about it.

[whitewater]

Chub, really, the compressor company said I had to pay it...

Zoo....lending company...not bank,

[whitewater]

Chub...I want to thank you!!!!

I called nys and they gave me the form i needed..

YAhooooo!

[mk162]

Wow, that is nice, I moved the company car into my name for insurance and tax reasons and the state wants me to pay sales tax.

I might write up a bill of sale for $1, and send them $.06.  A-holes.

[Lonestarapparel]

When I emailed my sales rep for a quote on the Auto machine, I asked for a quote that was all inclusive.  Freight, Tax, tech etc.    After the fact I got a bill from a freight company and was told I had to pay $900.00 for th tech to come down and set everything up. 

I pulled out that email where I asked for and received an all inclusive post and the manufacturer ate that $2,900 not me.  Doesnt hurt to ask for help with it,  they may discount it a little.

[Socalfmf]

brad if they are like MASS you pay tax on fair market value...i just had that happen to me....it was crap...got the car for 200 bucks but had to pay tax on 8k....amazing...

same with cell phones...you might get it at a discount with a two year agreement, but you pay tax on the 800 bucks the phone retails for....such crap

sam

[ZooCity]

Getting off topic but do you all get taxed by your respective states for you equipment?  We do, and I'm not sure what cost anyone incurs by us having equipment or how the tax is justified.  But I like giving my state money so I don't mind.  I presume it's a way to tax very large operations who are costing the county money in other ways unrelated to machinery. 

[whitewater]

When I emailed my sales rep for a quote on the Auto machine, I asked for a quote that was all inclusive.  Freight, Tax, tech etc.    After the fact I got a bill from a freight company and was told I had to pay $900.00 for th tech to come down and set everything up. 

I pulled out that email where I asked for and received an all inclusive post and the manufacturer ate that $2,900 not me.  Doesnt hurt to ask for help with it,  they may discount it a little.

I didn't utter the words..."all inclusive"

I know now for the future..

[GraphicDisorder]

Here in TN we don't have to pay tax on machines.  We had to get a machinery authorization form from the state, then we were good.

[Gilligan]

Wow, that is nice, I moved the company car into my name for insurance and tax reasons and the state wants me to pay sales tax.

I might write up a bill of sale for $1, and send them $.06.  A-holes.

Look into "Act of Donation".  Might not have to pay any taxes.

Sam, our state does a similar thing... but if you aren't TOO far off or if the car is old enough they won't bat an eye.

If the car has issues then sometimes you have to provide some paper work saying such and they will take it from the BoS.