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 Replies: 13 / Views: 2,802 |
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Pillar of the Community
United States
2077 Posts |
With all the controversy about sales tax on internet commerce, I'd figure that the mint would be one of the few that charges it. Nope. Not that I'm complaining though.
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Moderator
 United States
187702 Posts |
It would/should depend on the sales tax rate and laws of the destination. My state does not charge sales tax on coins.  |
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Pillar of the Community
United States
2764 Posts |
Shushhhhh......... the taxmen are watching......
Btw, is the US Mint considered a business? If they charge tax, then wouldn't USPS also have to charge taxes for goods and services? How about banks with all those fees charged for their services? please don't take it too serious on those question.... hehehe
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Moderator
United States
187702 Posts |
Yes, the US Mint is a business. The only government run business that shows a profit.  |
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Bedrock of the Community
United States
36575 Posts |
The government makes the rules.
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Pillar of the Community
United States
950 Posts |
Businesses dont have to charge taxes to the patrons.. they have to PAY them, sure.. but they could either eat them on their own or pass them on to us. It may appear that no taxes are charged, but I doubt the government is allowing them to make so much money (any money, really) without charging taxes.
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Valued Member
United States
80 Posts |
From the Mint's website:
Will I be charged sales tax for purchases completed online?
No. As a U.S. government agency, at this time, the United States Mint is not required to collect sales tax on purchases completed online.
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Moderator
United States
187702 Posts |
Quote:
I doubt the government is allowing them to make so much money (any money, really) without charging taxes Sales tax is paid to the State government, not the Federal. Yes, they could pay Federal income tax as a business. Sales tax is a different beast. |
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Valued Member
United States
186 Posts |
face value should never be taxed regardless of where its sold and by whom
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Pillar of the Community
United States
5201 Posts |
When you do your annual income tax they ask you how much you spent tax free on the internet and you are REQUIRED to claim it and pay to your state as a "usage" tax which equals the same percentage as your states sales tax. |
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Valued Member
United States
84 Posts |
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face value should never be taxed regardless of where its sold and by whom If I live in NY and send $20 in little Bobby Joe's graduation card (who lives in GA), I shouldn't have to pay State Tax and I shouldn't have to pay Federal Tax. |
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New Member
United States
48 Posts |
I wasn't aware of this. Guess, if you hold U.S. bullion coin in your precious metals backed IRA the tax is worked out differently.
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Bedrock of the Community
United States
17884 Posts |
Quote:
If I live in NY and send $20 in little Bobby Joe's graduation card (who lives in GA), I shouldn't have to pay State Tax and I shouldn't have to pay Federal Tax. True and you don't be cause no purchase was involved (State tax part) and there is nothing in the transaction that the Fed would tax you for. Little Bobby Joe on the other hand is technically on the hook for gift tax and income tax on the $20. |
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Valued Member
United States
97 Posts |
Pennsylvania does not levy a sales tax on coin sales. Since the Philadelphia mint down the road from me is in PA, no worries. No worry with the coin shops I deal with, too.
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Replies: 13 / Views: 2,802 |
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Posted 06/20/2013 3:08 pm
