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Can someone explain this whole xbox currency thing to me?

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  3. Can someone explain this whole xbox currency thing to me?

User Info: BookThrower

BookThrower
3 years ago#1
I've finally gotten around to updating my Xbox and I find myself a little lost about the whole points -> currency thing, plus the addition of taxes.

Could someone explain this new system to me, preferably with small words? Like for instance, what exactly gets taxed? What's the tax rate for things on the marketplace, etc. etc.

Really appreciate any insight that anyone can give me.
Thinking of something witty to put in my signature is harder then I thought.

User Info: glassghost0

glassghost0
3 years ago#2
-Everything is taxed depending on your state
-Points converted during the transition are not taxed
-You can now purchase any item on the marketplace with a CC, PayPal, etc...
No Thanks
3DS FC: 3067-4989-8122

User Info: BookThrower

BookThrower
3 years ago#3
I keep hearing about this transition. Do you mean like using a points card and having that converted into currency? Or does it mean something different?
Thinking of something witty to put in my signature is harder then I thought.

User Info: glassghost0

glassghost0
3 years ago#4
BookThrower posted...
I keep hearing about this transition. Do you mean like using a points card and having that converted into currency? Or does it mean something different?


You had 1,600 Microsoft Points on your account, they released the Dashboard/System Update making the transition to Currency

Your 1,600 MSP was converted to $20

Those points are not taxed

If you enter a 1,600 Microsoft Point code right now, it will credit your account $20 but those points will be taxed
No Thanks
3DS FC: 3067-4989-8122

User Info: BookThrower

BookThrower
3 years ago#5
Oh, thank you very much. That clears up ALOT for me.
Thinking of something witty to put in my signature is harder then I thought.

User Info: rawrLIKEaB05S__

rawrLIKEaB05S__
3 years ago#6
what is meant by " points will be taxed.
PSN: BlueStar7152 | MAG, Uncharted 3
XBL: ajwmawesome | GTA IV, 007 Legends, Minecraft

User Info: Super Creatures

Super Creatures
3 years ago#7
Purchases made with the currency from those converted points will be taxed, if online purchases in your state are taxed.
R.I.P. Eve English (Feb. 12, 1968 - Oct. 13, 2010)
Momma Eve, you will be missed.

User Info: rawrLIKEaB05S__

rawrLIKEaB05S__
3 years ago#8
ok
PSN: BlueStar7152 | MAG, Uncharted 3
XBL: ajwmawesome | GTA IV, 007 Legends, Minecraft

User Info: singhellotaku

singhellotaku
3 years ago#9
In short, uses money now $

User Info: Treewaller

Treewaller
3 years ago#10
Is anyone in Canada getting taxed? I'm definitely beyond my initially-converted cash and still haven't been charged tax, despite that it says "plus tax" in the purchase window when I buy stuff.
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  1. Boards
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  3. Can someone explain this whole xbox currency thing to me?

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