Wholesales & Sales Tax

[Charles Kingery]

Hi All !

I recently read a post made a few years ago regarding property taxes and wholesale deals. I'm interested in getting into wholesale deals. I plan on doing my first deal in my name, then using the funds from that to establish a business. I've seen lots of posts about LLC's, S-Corps etc. and still haven't decided on an entity yet. However, that's another topic. My question is regarding taxes. Specifically sales taxes. I know this will very from state to state. But, generally, are sales taxes required by wholesalers? If so, what is the basis for valuation on those taxes? If STax is paid at all, I would assume the assignment fee and not the total cost. Personally, I would like to legally avoid as much tax as possible. Thanks for the input.