Someone asked what an LLC is, I just said what it is, No advice given.
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This is simply to keep lower classes down. Tax the poor to make them poorer.
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Taxes need only to be paid once. So everybody buying books to flip them should at least be able to buy them tax free right?
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In New York State periodicals (magazines & comics) don’t have a sales tax if bought new. Back issues are taxed but I’m not sure where the cutoff is. So some may not be paying taxes initially.
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I have an LLC for a film I produced/directed. From personal experience @MisfitNJ , it is an absolute pain in the ass. This was an independent doc that had a Netflix run. I am the majority holder (not sure if this is the right terminology), and there are multiple people who have points in the film. Every year, this comes down on me for tax time. Even though I get all the info to my accountant, it’s a lot of work, stress, and money. This is all fresh for me right now because I’m going through it.
All this being said, it’s probably less complicated if you create an LLC for this hobby, but there still will be a lot of work for you to do come tax time every year.
I’m sure other people have had a better experience than I have, but it really does suck.
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You know, we really shouldn’t stress about this tax. All we have have to do is vote against it becoming a new law…
Oh. Wait. We don’t get to have a say, do we?
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In my non-professional opinion, a simple DBA is all that is needed if you want to do anything at all.
An LLC or a Corp comes with all type of requirements. In a lot of industries those requirements can be worth it in exchange for the personal liability protection.
If you’re a simple comic book dealer I can’t imagine there is too much liability to protect yourself from.
File a DBA with your county, open a business checking account, run everything though that and keep good records.
@petepinron not asking you to provide advice with this. Can you please list the advantages and disadvantages between a DBA and an LLC for a comic book dealer please?
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The bill passed, was this still in it or not?
I dont know and I dont care. What I do know is people now have $1400 to spend on comics 
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I like your optimism!
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Or to save for future tax bills!
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So the bill was signed today as others have mentioned. I have looked for updated sources regarding the $600 threshold, but all results I find are the same ones from last week. If something comes across, I’ll share it as soon as I can.
Considering this was reported as a last minute insert, I’m leaning towards it was in the bill that was signed today.
Edit:
Here’s a summary by KHN. You can see the report of the insert in the middle of their summary.
Not everyone… I’m buying a nice lock pick set to free myself from Anthony’s basement… 
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And clean underwear…
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From what Anthony told me, he uses combination locks so that way you don’t get out 
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That’s why I’m spending the entire $1400 on the best picks…
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Also, the PRO ACT passed as well. This effectively kills independent contractor jobs as well as bolstering union numbers. Unions = union dues = less money in your paycheck. Those dues also get funneled to special interests (aka your “elected representatives”)
This also makes it harder for you to sell your skills to highest bidder.
The number for corrupt union officials boggle the mind.
More mafia-like behavior for our government. More Technocronyism.
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Everyone will love the $1,400 (if you get it) but the guts of this bill is a disaster for independent and small business.
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I will spend less time selling on eBay after this year. It is not worth my time to list items for $10 to $20 after I have to subtract all the expenses and taxes now. I will start investing less for the short term gain and pickup comics that I think will be a long term gain. Then look for other options in the future to sell them. It is a shame that companies like Amazon pay next to nothing, but leave that to the little guys.
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