Cyber Monday – Will You Pay Taxes Or Not?
We've made it past Black Friday now we have Cyber Monday to relish. With Black Friday purchases you paid taxes because the merchant totaled it in with your purchase price. With Cyber Monday taxes are based on the "honor system". Ummm...I wonder how many people will really make an effort to get in touch with the Louisiana Revenue Department and report the amount of their out-of-state purchases to pay the required taxes? According to Byron Henderson of the Department of Revenue there is little chance of getting caught and fined for tax evasion unless your crime pops up in a routine audit. I really don't want to know what the odds are of getting caught but I guess it's something we should all be aware of because it could happen.
I'm pretty sure I didn't put a damper on anyone's holiday buying but somebody has to point out the dark cloud in front of the silver lining.