It used to be that an auction was an all day event attended by many who spent the entire day at the auction. It was a social event. Times have certainly changed. In our current world, buyers rarely attend an auction from opening item to the last item. In fact, I’d be surprised if the …
Category Archive: Auction
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May 24
Selling Real Estate at Auction in Minnesota – Is an auctioneer required to be a licensed broker or salesperson?
In the State of Minnesota the sale of real estate is regulated by the Minnesota Department of Commerce. Specifically, Minnesota Statutes Chapter 82 Real Estate Brokers and Salespersons speaks to the sale of real estate. In Minnesota, auctioneers are allowed to sell real estate at auction without being a licensed real estate salesperson or broker. …
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May 11
Does an auction house that conducts auctions on a weekly basis need to collect sales tax if selling for non-business clients?
This is a hot topic in the State of Minnesota. As recently as a few years ago, the Minnesota Department of Revenue began to audit auction companies for compliance with sales tax laws. The audits were not completed uniformly, and different standards were applied. As a result, the Minnesota State Auctioneers Association has had numerous …
Permanent link to this article: http://johndschultz.com/does-an-auction-house-that-conducts-auctions-on-a-weekly-basis-need-to-collect-sales-tax-if-selling-for-non-business-clients/