True or False: Auctioneers are liable for sales tax if they do not meet their responsibilities correctly.

Auctioneers hold a legal responsibility to ensure that sales tax is collected and remitted correctly on the items sold at auction. Failure to meet these responsibilities can lead to liability for unpaid sales tax. This means that if an auctioneer does not comply with applicable tax laws—such as failing to charge the correct sales tax or not submitting it to the state—they can be held financially responsible for the resulting tax obligations.

This liability exists regardless of whether the items sold were new or used, as long as the transactions fall under the sales tax laws of Kentucky. The importance of this role is emphasized by regulatory oversight in the auction profession, which seeks to ensure all financial obligations are met during the auction process. Thus, stating that auctioneers are liable for sales tax if they do not fulfill their responsibilities correctly is true.