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Ebay Collecting State Tax On Non-taxable Coinage

 
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 Posted 12/01/2019  05:47 am Show Profile   Bookmark this topic Add paleoguy45 to your friends list Get a Link to this Message
Are any of our eBay sellers having issues with State taxes being forced onto the buyer of our U.S. coinage? Most states DO NOT tax our coinage (currency is another matter); yet eBay continues to place un-editable state taxes in my invoices to buyers. The figure is grayed out (not removable). For a high value coin (Double Eagle, for example) the amount approaches $100. Any thoughts, help would be most appreciated.
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 Posted 12/01/2019  07:14 am  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
State law varies but in Nevada sale of coinage is taxable if it is sold for over 2x face, I would suggest trying to sell the as bullion. Which for eBay means changing the catagory it is listed under.
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 Posted 12/01/2019  08:21 am  Show Profile   Bookmark this reply Add paleoguy45 to your friends list Get a Link to this Reply
Thanks for the info Gincoin43. I have an email in to the State of Idaho Taxing Authority. Hopefully they will shed more light on the matter. Good suggestion on listing as bullion. PG
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 Posted 12/01/2019  09:45 am  Show Profile   Bookmark this reply Add Gincoin43 to your friends list Get a Link to this Reply
Just remember, it doesn't matter where you are, only where your buyer is. It is their tax laws that will apply, but I'm fairly certain, if you sell a gold coin as coinage, it will be taxed in almost every state if not all
Edited by Gincoin43
12/01/2019 09:46 am
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 Posted 12/01/2019  09:51 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
May not help. Rather than trying to keep track of all the different exception and exemptions that each state has they are probably just looking at "State X has a Y% sales tax rate." and applying it to everything, leaving up to the buyer who shouldn't have been charged to apply to their state revenue service for a refund of the overtaxed amount.
Gary Schmidt
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 Posted 12/01/2019  10:31 am  Show Profile   Bookmark this reply Add fplagge to your friends list Get a Link to this Reply
On a related matter, it bugs me that Ebay charges their 10% fees on shipping costs as well as on selling price.
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 Posted 12/01/2019  12:15 pm  Show Profile   Bookmark this reply Add paleoguy45 to your friends list Get a Link to this Reply
Don't forget that, as of 1Nov. PayPal DOES NOT refund fees if a coin is returned and the money is refunded to the buyer. I sold a 1995-W 10th Anniv. Set with '95-W Silver Eagle and a coin dealer/cherry picker returned the set because he didn't think the Eagle would 70. That "incident" cost me over $200 thanks to PayPal keeping their transaction fee and insured shipping on the set. :(

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 Posted 12/01/2019  1:20 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
On a related matter, it bugs me that Ebay charges their 10% fees on shipping costs as well as on selling price.


You can thank greedy sellers that sold $100 coins for $10 and $90 shipping.
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 Posted 12/01/2019  2:09 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply

Quote:
if you sell a gold coin as coinage, it will be taxed in almost every state if not all


I believe that over half the states, including Idaho, now exempt numismatic coins and bullion from sales tax. But as @Conder said, it's a lot easier for eBay to ignore the specific exemptions and apply the tax across the board.
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 Posted 12/01/2019  2:21 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Most states DO NOT tax our coinage (currency is another matter); yet eBay continues to place un-editable state taxes in my invoices to buyers


Most states actually DO charge sales tax on coins. Many of the ones that have exemptions require you to get to a certain threshold before it happens. Barely any states don't charge it at all for coins.

If there is a glitch in the software where it is doing it unnecessarily then yes eBay would like to know to fix it. If people don't want sales tax on coins, vote for people that don't want tax/contact your state representatives/start petitions etc. eBay is doing what the state governments tell them they have to do nothing more, eBay actually also fought against it while the other big boys were in favor of it as they already had to collect it.


Quote:
You can thank greedy sellers that sold $100 coins for $10 and $90 shipping.


That and it makes them more money like PayPal collecting fees on the collected tax now. I get why they did it, but it would have been nice if when you let their system calculate the shipping or a drop down menu of different methods at cost etc that the shipping wouldn't be taxed in those cases. Probably would have been easier for everyone instead of having to charge a little bit over to cover the fee.
Fire A.J. Preller
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 Posted 12/02/2019  3:36 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
What I can't understand is that my last 3 eBay sales have been two world coins and a baseball card. Coins were taxed, but not the baseball card .

(Edit: Never mind. Just realized it's the destination state that matters)
Edited by tdziemia
12/02/2019 3:39 pm
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 Posted 12/02/2019  7:42 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
-----Burton
45 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC
Owned by four cats and a wife of 35 years (joined 1983)
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 Posted 12/03/2019  09:04 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
South Carolina
Quote:
SECTION 12-36-2120. Exemptions from sales tax.

Exempted from the taxes imposed by this chapter are the gross proceeds of sales, or sales price of:

(70)(a) gold, silver, or platinum bullion, or any combination of this bullion;

(b) coins that are or have been legal tender in the United States or other jurisdiction; and

(c) currency.

The department shall prescribe documentation that must be maintained by retailers claiming the exemption allowed by this item. This documentation must be sufficient to identify each individual sale for which the exemption is claimed;
That last line may explain why some dealers, like APMEX, do charge sales tax for SC deliveries.

For what it is worth, I have never paid sales tax for coins at the coin shows here. However, I have seen the SC DOR aggressively prosecute (non-numismatic) vendors at flea markets for not collecting sales taxes. YMMV.
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 Posted 12/03/2019  10:58 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
What ever happened to "No taxation without representation"
Doesn't really mater anyway since the so called representation is just someone that wants money too.
By me everything is taxed. They now tax anything I try to buy via a catalog over the mail. I really can't think of anything that is not taxed. This is why I only buy coins at a coin show. So far no taxes there. SO FAR that is.
just carl
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 Posted 12/07/2019  5:45 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply

Quote:
I really can't think of anything that is not taxed.


Almost everything I buy in the grocery store is not taxed (I think dog food is taxed, but I haven't heard her growl about it yet).
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 Posted 12/07/2019  8:50 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply

Quote:
What ever happened to "No taxation without representation"


Taxes are being applied by YOUR state, so you are represented.


Quote:
This is why I only buy coins at a coin show. So far no taxes there. SO FAR that is.


Actually incorrect. If the purchase is taxable, it's taxable whether the seller collects sales tax or you owe use tax.

Somebody has to pay for schools, roads, state patrol, fire department, police, trash pick-up et al. Some is at the local level, some at the county and much is state-wide. If you want the services, you have to pay the taxes.

-----Burton
45 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC
Owned by four cats and a wife of 35 years (joined 1983)
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