New York Sales Tax Settlement Could Change The Way Art World (And Others) Do Business

New York Sales Tax Settlement Could Change The Way Art World (And Others) Do Business

This is one of those “you’ve got to be kidding me” moments. Unfortunately, this is no joke and it has potential ramifications for anyone involved in buying or selling expensive retail items, whether it be art, collectibles, or anything else.

It is important to note that the sales tax rules imposed in this case apply to New York State (NYS), but don’t think that other states aren’t watching carefully. Some view this case as proof that New York has unfairly targeted the art market. Read more