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    Who legally owns your product? You or clickbank?

     
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    doc



    Joined: 15 Mar 2012
    Posts: 5

    PostPosted: Thu Oct 24, 2013 12:11 am    Post subject: Who legally owns your product? You or clickbank? Reply with quote

    At the point of sale, does clickbank take ownership of your product? and then "sell" it to the customer?

    (The reason i'm asking is i'm currently setting up an internet marketing business and my accountant asked me if i needed to register for vat tax. And apparently who actually owns the product at the point of sale might be an issue as to who is actually charging for the vat tax.)
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    mrclean0325



    Joined: 23 Jan 2011
    Posts: 3
    Location: USA

    PostPosted: Mon Oct 28, 2013 12:27 am    Post subject: Reply with quote

    ClickBank is the actual vendor and "buys" your product wholesale. They collect any sales taxes from the transaction. They file and pay whatever sales taxes are due. A very nice system so you don't have to try and figure out who, what, where, and when to file and pay.

    They also track your income and provide the information to file your taxes at the end of the year.

    This is the main reason I will continue with ClickBand as opposed to other affiliate marketplaces (ZVZoo, WSO, etc.) since if the sales tax isn't taken care of at the time of the sale. YOU are responsible to collect file and pay. Most do not even have this option. So when the tax people eventually come knocking (they will) - you have a problem. You will not only have to pay the sales taxes (probably income taxes also) but all the fines and late fees. This is usually a HUGE amount when it wasn't to start.

    Been through this and it was NOT fun!
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    remotorboater



    Joined: 27 Feb 2014
    Posts: 4
    Location: Atlanta

    PostPosted: Thu Feb 27, 2014 8:51 pm    Post subject: Reply with quote

    you dont ever own the product I dont think
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