Marketplace Tax Collection
A Marketplace Facilitator is defined as a marketplace that contracts with third party sellers to promote their sale of physical property, digital goods, and services through the marketplace. As a result, LuxWatchMarket24 is deemed to be a marketplace facilitator for third party sales facilitated through LuxWatchMarket24's global marketplaces. LuxWatchMarket24 is responsible for tax on sales facilitated on its platform. Sellers who sell directly outside of the platform may still be liable for the tax on those sales.
Marketplace Facilitator legislation is a set of laws that shifts the sales tax collection and remittance obligations from a third party seller to the marketplace facilitator. As the marketplace facilitator, LuxWatchMarket24 will now be responsible for calculating, collecting, remitting, and refunding state sales tax on sales made by third party sellers for transactions destined to states where Marketplace Facilitator and/or Marketplace Collection legislation is enacted. In certain states, local taxes are not included in the Marketplace Facilitator legislation; LuxWatchMarket24 is not responsible for those taxes.
