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What is a Marketplace?
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Michael J. Flemingis the founder and president ofSales Tax and More, a full service consulting and solutions firm with a passion for state tax.He is one of the country's leading authorities on sales tax issues such as consulting and research, registrations, returns, nexus, dropshipping, e-commerce, and service providers.
Michaelis a renowned writer and speaker, and he regularly presents on webinars. He is also the host of theSales Tax and Morepodcast, where he shares his wisdom and learnings to his audience in order to help them navigate the tricky world of taxes.
In this episode…What exactly is a marketplace? Well, it depends—every US state defines a marketplace a bit differently. However, a common definition involves a person contracting with a seller, including compensation and the facilitation of a sale. Typically, there must also be additional services to make the marketplace complete.
For example, in the state of Georgia and many other states, if a person or company only collects compensation and does not provide any additional services, then it is not a marketplace. Examples include sites like Shopify, WooCommerce, or BigCommerce, as these allow an e-commerce seller to set up an online store and collect payment, but do not provide the services defined under a marketplace.
In this week's episode of the Sales Tax and More podcast, Michael J. Fleming, the Founder of Sales Tax and More, sits down with his co-host Ellie Moffat to explain the ins and outs of marketplaces. They discuss the connection between economic nexus and marketplaces, the various caveats to selling on a marketplace, and the best practices for business owners selling on their own websites. Stay tuned.
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