In Massachusetts, most goods are charged sales tax. Items over $175 are taxed.
Avoiding Sales Tax on Amazon
To avoid sales tax on Amazon, buy from sellers not charging it. Check no tax was added before paying. Amazon’s wedding registry gives 20% off.
Tax Considerations for Jewelry
If selling jewelry owned over a year, long term capital gains tax from 0% to 20% applies.
Inherited jewelry isn’t subject to estate taxes since it’s personal property. Jewelry can be insured for full value.
Understanding Use Tax
Use tax in Massachusetts is 6.25%. It applies to purchases used in Massachusetts without paying 6.25% sales tax. Use tax is paid to Massachusetts.
Frequently Asked Questions
- What is the sales tax on books in Massachusetts?
- What items are not taxed in Massachusetts?