Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?

Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Ohio Sales Tax Exemption For Coins & Bullion Eliminated Effective January

 
 
To participate in the forum you must log in or register.
Author Previous Topic Topic Next Topic  
Pillar of the Community
United States
3710 Posts
 Posted 07/19/2019  2:13 pm Show Profile   Bookmark this topic Add Joe2007 to your friends list Get a Link to this Message
Ohio State budget passed yesterday with the sales tax exemption for coins and bullion eliminated effective Jan. 1 2020.

Bad news for Ohio coin collectors and bullion stackers. Also means that major coin shows will likely continue to stay away from Ohio cities.

Budget plan would again kill 'the Noe exemption'
https://www.toledoblade.com/local/p.../20190503166
Edited by Joe2007
07/19/2019 2:16 pm
Moderator
Learn More...
United States
79443 Posts
Bedrock of the Community
Learn More...
United States
42908 Posts
 Posted 07/19/2019  4:32 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
States with substantial budget deficits are running out of places to look for money.
Bedrock of the Community
United States
18749 Posts
 Posted 07/20/2019  10:40 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Here in Illinois they also started to have sales taxes on mail order items regardless of what state they are from. I stopped ordering stuff from them due to this.
just carl
Pillar of the Community
United States
1974 Posts
 Posted 07/20/2019  10:59 am  Show Profile   Bookmark this reply Add Arkie to your friends list Get a Link to this Reply
So online coin purchasers in Ohio will have to pay the tax come January.
Edited by Arkie
07/20/2019 11:02 am
Bedrock of the Community
United States
12812 Posts
 Posted 07/20/2019  11:24 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
So online coin purchasers in Ohio will have to pay the tax come January.


Not just online, but any purchase period for coins assuming the store or show is following the law.
Fire A.J. Preller

Go Navy Beat Army
Pillar of the Community
United States
3710 Posts
 Posted 07/20/2019  3:41 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
According to my local coin dealer the tax is effective October 1st not January. I guess they really are eager for that extra revenue. On a totally unrelated note I may need to start taking vacation in Indiana.
Pillar of the Community
United States
627 Posts
 Posted 07/20/2019  8:55 pm  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply
Well they just raised the state excise tax on fuel last month or so. Why not?

Gotta buy a license for a kayak. A kayak!

Business Taxes

Alcoholic Beverage
Commercial Activity Tax (CAT)
Corporation Franchise (Tax No Longer in Effect)
Employer Withholding
Financial Institutions Tax (FIT)
Gross Casino Revenue Tax
Horse Racing
Income Municipal Income Tax for Electric Light Companies and Telephone Companies
Kilowatt-Hour Tax
Motor Fuel Tax
International Fuel Tax Agreement (IFTA)
Municipal Net Profit Tax
Natural Gas Distribution ("Mcf Tax")
Pass-Through Entities
Petroleum Activity Tax (PAT)
Public Utility Excise
Property Public Utility Property
Replacement Tire Fee
Resort Tax
Sales & Use
Severance
Tobacco
Individual Taxes

Income Ohio Individual Income Tax
Income Municipal Income Tax (If search for Municipal Net Profit Click Here)
Income School District Income Tax
Income Fiduciary Income Tax
Property Real Property

Bedrock of the Community
Learn More...
United States
42908 Posts
 Posted 07/20/2019  9:02 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Are there any major coin shows that rotate through Ohio?
Valued Member
United States
100 Posts
 Posted 07/20/2019  11:36 pm  Show Profile   Bookmark this reply Add carlp007 to your friends list Get a Link to this Reply
That sucks. Luckily, in Florida there is no sales tax yet. I learned that last month when I was buying a few Franklin halves at my coins store. The owner explained what is, and is not taxed. I was pleasantly surprised. With that being said, we are taxed for everything else under the sun. I guess they need to make up for the no state income tax.
Pillar of the Community
United States
2708 Posts
 Posted 07/21/2019  12:18 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
Gotta buy a license for a kayak. A kayak!


Yeah, that surprised me when I arrived in Ohio, and my wife and I took some little inflatables onto a reservoir, and were met by some kind of local authority when we came in.

Well, if we want services (like bridges that don't fall down and roads that are maintained well enough to actually drive at the speed limit...hence the fuel tax increase), somebody has to pay for them.

According to the article, this is expected to bring $5.5 million annually into state coffers. Probably a calculated risk that's far more than what they'd get from the occasional large coin show they've scared off.
Edited by tdziemia
07/21/2019 12:27 pm
Bedrock of the Community
Learn More...
United States
10151 Posts
 Posted 07/21/2019  12:35 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
That does stink. $5.5 million on a $30B+ annual budget isn't much.
Bedrock of the Community
United States
12812 Posts
 Posted 07/21/2019  1:59 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Gotta buy a license for a kayak. A kayak!


Do you need a drivers license to use shopping carts at the store too?


Quote:
That does stink. $5.5 million on a $30B+ annual budget isn't much.


Basically the equivalent of getting a 1 cent per year raise.
Fire A.J. Preller

Go Navy Beat Army
Pillar of the Community
United States
3710 Posts
 Posted 07/21/2019  4:13 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
Meanwhile they renewed millions in film subsidies for Hollywood in this budget bill. Makes me sick.
Pillar of the Community
United States
2708 Posts
 Posted 07/21/2019  4:36 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
States with substantial budget deficits are running out of places to look for money


Ohio actually ran small budget surpluses in 2017 and 2018 fiscal years.
But they are always changing what's taxable and what isn't. Prescription eyeglasses became exempt recently, so they need other things to fill that hole.
  Previous Topic Topic Next Topic  
 
To participate in the forum you must log in or register.

Coin Community Member eBay Sales

Certified Coins   Certified VAMs   Certified Errors  




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2019 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2019 Coin Community Forums
It took 0.92 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05