Corvette Specialties is Going Out of Business
01-28-2013, 06:19 PM
#21
Burning Brakes
He's talking about the fact that most online (or catalog) retailers that do not have a "physical presence" in a state do not have to collect state sales tax on orders from out of state.
Many states are scrambling to try to force these retailers to collect anyway, to level the playing field.
The crazy thing is, in the vast majority of the cases the net is that there is no advantage. When a person makes a catalog or online RETAIL purchase and does not have sales tax collected due to interstate commerce, that person then owes basically the same amount to their home state under Use Tax, which is in place in most states.
So if the states were more aggressive in collecting unpaid Use Tax by purchasers, there would be essentially no tax advantage online or through a catalog from an out of state vendor.
Many states are scrambling to try to force these retailers to collect anyway, to level the playing field.
The crazy thing is, in the vast majority of the cases the net is that there is no advantage. When a person makes a catalog or online RETAIL purchase and does not have sales tax collected due to interstate commerce, that person then owes basically the same amount to their home state under Use Tax, which is in place in most states.
So if the states were more aggressive in collecting unpaid Use Tax by purchasers, there would be essentially no tax advantage online or through a catalog from an out of state vendor.
01-28-2013, 08:10 PM
#24
Melting Slicks
Sorry to hear about the closing. Best wishes. If you could hold out the internet sales take is coming fast. Alot faster than anyone thinks. Also a mileage tax is coming soon.
01-28-2013, 08:47 PM
#28
Melting Slicks
01-28-2013, 10:01 PM
#32
Burning Brakes
To me, this is a sad ending. I own a 53 year old family business and always shop with the little guy that works later and longer hours than most but also has the most liabilities. I hope the best of luck for you and your staff.
01-29-2013, 01:17 AM
#34
Administrator
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01-29-2013, 03:09 AM
#35
Drifting
Wow... I wish your website was a little more user friendly as far as available parts. I'm in the middle of a resto-mod and would probably buy quite a bit at 40% off...
Just a few off the top of my head...
74 rear bumper reinforcement end caps and filler strips
78-81 fuel tank sender, possibly the 82 style with electric
Interior carpet set
Speedo/tach dash section
Dash pad
Chassis brake lines
Chassis fuel lines
Rear leaf spring
Bilstein shocks
Aftermarket camber rods
Steering ram rebuild kit
FLOOR PANS!
Just a few off the top of my head...
74 rear bumper reinforcement end caps and filler strips
78-81 fuel tank sender, possibly the 82 style with electric
Interior carpet set
Speedo/tach dash section
Dash pad
Chassis brake lines
Chassis fuel lines
Rear leaf spring
Bilstein shocks
Aftermarket camber rods
Steering ram rebuild kit
FLOOR PANS!
01-29-2013, 02:16 PM
#36
Instructor
Wow... I wish your website was a little more user friendly as far as available parts. I'm in the middle of a resto-mod and would probably buy quite a bit at 40% off...
Just a few off the top of my head...
74 rear bumper reinforcement end caps and filler strips
78-81 fuel tank sender, possibly the 82 style with electric
Interior carpet set
Speedo/tach dash section
Dash pad
Chassis brake lines
Chassis fuel lines
Rear leaf spring
Bilstein shocks
Aftermarket camber rods
Steering ram rebuild kit
FLOOR PANS!
Just a few off the top of my head...
74 rear bumper reinforcement end caps and filler strips
78-81 fuel tank sender, possibly the 82 style with electric
Interior carpet set
Speedo/tach dash section
Dash pad
Chassis brake lines
Chassis fuel lines
Rear leaf spring
Bilstein shocks
Aftermarket camber rods
Steering ram rebuild kit
FLOOR PANS!
send them a Pm I was just there today and they are swamped with calls
01-29-2013, 03:58 PM
#38
Burning Brakes
Has anyone received a response to their emails? I sent an email aound 2pm eastern yesterday but haven't heard back. Just curious if I'm the only one. Thanks.
01-29-2013, 04:00 PM
#39
Burning Brakes
01-29-2013, 05:03 PM
#40
Burning Brakes
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Location: Plymouth MN
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I will miss their car shows, donuts, advise, carrying parts out to my truck, and their willingness to go the "extra mile" - they are a solid local business - and I wish that I could have done more to help - I will miss them for sure.