Customs duties & taxes on an International purchase?

[Portofino2023]

Can someone here walk me through the math on an International purchase? For example what would buying a watch for $20K USD cost to import from Canada or the EU? From memory-think the duties are 5% or so, and the transaction is also reported to your State of residence-so you’ll have State sales tax liability versus no duties or sales tax if you buy out of state with a retailer that has no operations in your state-is that correct?

[sportsfan0704]

I paid about 200 or a bit less on a 6000 dollar purchase from Europe to USA


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[Calatrava r]

That is my understanding as well with customs. They report the import and price to your state so that state can bill you for the sales taxes and penalties if the tax is not paid on time.

[PatekSF]

I have heard that Global Blue and US Customs communicate with each other. So, when you return to the US and are clearing Customs, they know about your large purchase(s). It’s best to declare …