If you are selling online or using live auctions, new legislation is coming up that may impact not only how you do sales, but what you will be required to give to perform sales. Selling online has been a lifeline for many small businesses struggling to make it through the last year. But, even as …
New Federal Legislation On Deck For Small To Medium Businesses Read More »
Triangle Business Journal Reported – Gov. Roy Cooper announced a major step forward on Friday for North Carolina as the state recovers from the coronavirus pandemic. Cooper is immediately lifting all mandatory indoor and outdoor capacity limits for businesses, event venues and gatherings. Cooper is also lifting social distancing requirements and most mandatory mask requirements. …
Governor Cooper Lifts Executive Order Limits From Pandemic. Read More »
Auctions should be advertised (or marketed) sufficiently. As well, auctions should not be advertised insufficiently. So, what’s sufficiently? What’s insufficiently? Most auctioneers would likely conclude that an auction was advertised sufficiently if the subject property demanded market value. However, if the subject property doesn’t demand market value, does that mean it was advertised insufficiently?
In 2017-2018 Wayfair vs South Dakota was decided that changed the landscape of the Saled Tax Collection World. We have put this together to help auctioneers understand the Sales Tax Requirements for them. If you have questions, please send them to matt.price@ebbids.com.
The news of businesses slipping under the turbid waters of the COVID crisis very rarely reaches the front pages or the urgent news block of the local or national news. There is not a single industry that has avoided impacts by shutdowns. Even at home, you can hear the whispers desperate for hope. On the …
With Business Closures Imminent, The Auction Industry Prepping Read More »
Certified Auctioneers Institute 2020
Two items of interest are coming around the corner shortly. 2020 NC COVID-19 Survey NC Sales Tax Regulations for Auctioneers These will be presented online here as well as video on facebook.
Sales and Use Tax Division Page 1 of 4 February 6, 2020 IMPORTANT NOTICE: AUCTIONEERS Effective February 1, 2020, an auctioneer that meets the definition of a marketplace facilitator and either of the thresholds described below must collect and remit sales and use tax on the sales price of marketplace-facilitated sales pursuant to N.C. Gen. …
By Matt Price, Price Auctions & Estates As storage facilities and estate sale professionals are finding out, things are not bringing in as much money as they were in the past. The cause is a combination of things. First, an economy that is steamrolling through and amazingly, it does not seem to be ending. The …
An important note to fiduciaries: Auctioneers have are hired daily in order to sell items inside and outside of estates. They are fiduciaries just like an Executor of a will. Consider these important facts before making your decision: An Auctioneer can sell all of the art and collectibles in your client’s estate, unlike estate tag …
