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Do You Have to Report Shopify Income?

Last updated on October 1, 2022 @ 7:24 pm

As a Shopify merchant, you’re responsible for paying taxes on the income you earn from your store. This includes any sales tax, value-added tax (VAT), or goods and services tax (GST) that you collect from your customers. You may also be required to pay other taxes, such as payroll taxes, property taxes, and local business taxes.

In most cases, you’ll need to report your Shopify income to your country’s tax agency.

For example, if you’re based in the United States, you’ll need to file a federal tax return and pay taxes to the IRS. If you’re based in Canada, you’ll need to file a tax return with the Canada Revenue Agency (CRA).

PRO TIP: If you are selling products through Shopify, you may be required to report your income to the IRS. Failure to do so could result in penalties and interest. Be sure to consult with a tax professional to determine if you need to file a return.

To find out what taxes apply to your Shopify store, we recommend that you speak with a accountant or tax advisor in your country. They can help you determine which taxes you need to pay and how to file your tax return.

Conclusion: You will have to report your Shopify income on your taxes.

Madison Geldart

Madison Geldart

Cloud infrastructure engineer and tech mess solver.