MCC 5931 - Second Hand

The Merchant Category Code (MCC) 5931 is designated for businesses operating in the "Second Hand" industry. This MCC encompasses establishments primarily involved in the sale of used merchandise, which can range from clothing and furniture to electronics and more. The purpose of this category is to capture transactions related to the resale of goods that are pre-owned, offering consumers affordable alternatives and promoting sustainability through the reuse of products.

Types of Services

• Resale Retail Outlets: Businesses that focus on selling pre-owned goods to consumers, often at a reduced price compared to new products.
• Pawn Shops: Stores that provide loans secured by personal property while also selling pre-owned items that were not reclaimed.
• Consignment Stores: Shops where individuals can sell their used items through a retailer who takes a commission from the sales.

Related MCCs

• MCC 5944: Jewelry Stores, Watches, Clocks, and Silverware Stores: Includes both new and used jewelry but primarily new, differentiated by the focus on precious items.
• MCC 5933: Pawn Shops: While overlapping with second-hand goods, this code is specifically for pawn loans and sales.
• MCC 5999: Miscellaneous and Specialty Retail Stores: Covers a wide range of specialized retail that doesn't fit neatly into other categories, including both new and used items.

FAQs

• Are there any restrictions on what can be sold under this MCC?
  - Businesses should comply with local regulations, especially regarding the sale of specific second-hand items like electronics, which may require testing or compliance with safety standards.
• Do second-hand stores have to charge sales tax?
  - Sales tax requirements vary by region, but generally, second-hand stores must charge sales tax just like retailers of new goods unless they qualify for a specific exemption (e.g., non-profit status).
• How can a business get classified under MCC 5931?
  - Businesses are assigned MCC codes by credit card companies based on the primary type of goods or services they offer. To change or confirm the correct code, businesses should contact their payment processor.

Merchants with MCC 5931 ↓ Add ↓

No merchants yet :(

Add a Merchant with MCC 5931:

MCC Categories

Agricultural Services   Airlines   Business Services   Car rent   Cars and vehicles   Clothing stores   Contract services   Entertainment services   Government Services   Hotels / Resorts   Mail / Telephone Sales   Membership оrganizations   Miscellaneous Stores   Not categorized   Personal services   Professional services   Repair services   Retail Outlet Services   Service provider   Transportation Services   Utility Services   Wholesale suppliers and manufacturers