Seller shall charge the appropriate sales, excise or any other taxes due, collect, record these taxes, and remit to the appropriate taxing authorities, as required by law. Under no circumstances will OrangeBee be responsible to pay any sales, excise, use, or other such tax on behalf of any Account.
Accounts are advised that transactions with OrangeBee are generally treated as taxable events for applicable International, Federal, State, Provincial, and Local tax purposes. The declaration and reporting of all applicable International, Federal, State, Provincial, and Local taxes resulting from these transactions rest solely with the Account.
Further, that OrangeBee is required by Federal law to obtain the correct taxpayer identification number of Account (who is required by law to provide such number) and to report all sales of Accounts to IRS. Failure to provide the correct taxpayer identification number may result in the imposition of backup withholding of twenty (20 percent of the gross proceeds of each sales transaction, under Federal law. Account agrees not to hold OrangeBee liable for any actions OrangeBee takes to comply with applicable International, Federal, State, Provincial, or Local laws.
OrangeBee sales are taxable income just as your cash sales, but that does not necessary mean you will pay taxes on the OrangeBee you receive. You have your taxable income, less all your expenses and deductions, and that is what you pay taxes on. Just as with your cash income, if you spend your OrangeBee on a business expense then you deduct it as a business expense. OrangeBee will report all sales to the IRS at year’s end and furnish you this information on IRS Form 1099-B. As with any questions concerning taxes, you should check with your accountant.