Can't Wait for Cyber Monday? Watch out for Use Tax!
In about three weeks, Black Friday 2011 will officially be underway. For decades this has been the busiest shopping day of the year. But there is another day that many of you are looking forward to: Cyber Monday. Cyber Monday is the e-based alternative to Black Friday. It falls on the Monday after Thanksgiving and is the biggest online shopping day of the year. Hundreds of online retailers participate. Experts say that in many cases you get a better deal making your purchase on Cyber Monday than on Black Friday. What does all of this have to do with taxes? Well, if you plan to scoop up some of those deals on Cyber Monday, chances are good that it will be from a retailer that is not required to charge you sales tax. And that is a hot topic right now. Does this mean that you are off the hook for paying the sales tax if weren’t charged for it? No. According to Missouri law, you are supposed to declare that ...