What are the tax implications of a Guaranteed Buyback® Plans?

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What are the tax implications of a Guaranteed Buyback® Plans?

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You should consult your tax advisor on your specific tax liabilities. If you live outside of the state of California, you will not owe California sales tax on the sale of the device, however, you may owe taxes in your home state. If you live in California you should not owe a California sales tax if you are selling no more than two devices, or other pieces of personal property, in a 12 month period as California considers this an occasional sale. However, if you live in California and are purchasing multiple buyback agreements and selling the products during the Guaranteed Buyback® Term, then you may owe sales taxes because these sales may no longer qualify as occasional sales.

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