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 Replies: 28 / Views: 2,245 |
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Pillar of the Community
United States
7123 Posts |
New Mexico at least in this area 7%+ tax on everything ,,that can be legally bought and sold ,, except if you buy from a private party that does not operate as a store or business.
Metalman
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Pillar of the Community
United States
2177 Posts |
It depends which coin shop I go to. At one shop if I pay cash I he doesn't charge taxes.
At another one, I pay taxes unless he sells me an item at a steal.
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Bedrock of the Community
United States
20753 Posts |
This is all odd. I think we need a numismatic attorney to go fight for our rights in the Senate  As for Illinois, I never even thought of sales taxes on coins. I've never paid sales taxes on anything at a coin show either. HMMMMM. Now that I think of it we do have sales taxes here, but basically in many places ignored. No sales taxes at coin shows on anything. Books, Albums, plastic rolls, etc. Same at gun shows, knife shows, camera shows and NEVER, NEVER at a flea market. Even at coin stores I don't remember there being a sales tax. Many so called resale shops in the area, no sales taxes. I know if I order anything from a catalog and they are based in another state, there is no sales taxes on anything unless they have an outlet or store in Illinois. Regardless, I just can't see paying a tax of any kind of money of any kind. As someone said, if you go to a store and ask for 4 quarters for a dollar, will there be a sales tax? That is dumb and I wouldn't and don't pay it. Now if left as an inheritance I know they nail you for taxes unless you have a living trust will. But sales taxes on money. Nuts. |
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Bedrock of the Community
United States
17884 Posts |
quote:
This is all odd. I think we need a numismatic attorney to go fight for our rights in the Senate
Then I would argue that taxes should be paid. I keep coming back to "Why do we think we are special and shouldn't have to pay sales tax on what we buy when everyone else has to pay taxes on their purchases?" It has to be fair. Everyone pays sales tax, or no one pays sales tax. quote:
As someone said, if you go to a store and ask for 4 quarters for a dollar, will there be a sales tax?
No because that is a like kind exchange not a sale. Charge them $1.05 for that dollar in change and it is a sale and tax is due. |
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Valued Member
United States
144 Posts |
Yes, but it was a $0.05 sale for service, and $1 change for legal tender.
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Pillar of the Community
United States
1691 Posts |
Good points, greyhav....I know that internet auction sites did charge applicable sales tax on purchases until last year(unless you were a dealer).Now for NY they don't seem to charge sales tax on currency purchases.
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Pillar of the Community
United States
1173 Posts |
No sales tax on "money" in North Dakota. When you "buy" coins or currency your are simply doing a monetary exchange, hence no sales tax. If you buy bullion, however, I understand that tax will be added. I see no reason that the exchange of modern money for older money, or damaged money (errors) should be taxed.
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Bedrock of the Community
United States
20753 Posts |
Then I would argue that taxes should be paid. I keep coming back to "Why do we think we are special and shouldn't have to pay sales tax on what we buy when everyone else has to pay taxes on their purchases?" It has to be fair. Everyone pays sales tax, or no one pays sales tax.
Odd statement since sales taxes are a State law, not a USA law. In some states sales taxes are completely different than in other states. I remember in Wisconsin some years back I was amazed that there is no sales tax on food at all. None for the sale of many other products. As posted here in North Dakota no tax on the sale of money of any kind. In many states there is no sales taxes on some medications. I found that in some hospitals their pharmacy charges no tax on medications at all here in Illinois.
To say everyone should pay would mean that sales taxes must be a federal law, not a state law. Now in chicago there is also a City sales tax and in some of the Illinois counties, a county sales tax. Many people drive outside Chicago and Cook county to save as much as 10% or more in sales taxes. May not be right but many do just that. As noted sales taxes are NOT universal so and in many places if you just cross the street there is a different law for taxation.
Why should everyone pay sales taxes if there is no law saying to do so?
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Bedrock of the Community
United States
17884 Posts |
quote:
Odd statement since sales taxes are a State law, not a USA law.
Not really it still holds true, just on a state level. If a state is going to have a sales tax, then everyone in the state should be subject to it, ne exemptions for special interest groups, or the sales tax should be eliminated and no one in the state should have to pay it. If a state want to try and attract business by eliminating the tax while their neighbor decides to keep it that is fine. One state or the other will probably eventually decide they made the wrong decision and change. My objection is only with the idea of "Everyone in the state has to has to pay sales tax....except these people." |
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Bedrock of the Community
United States
20753 Posts |
Not really it still holds true, just on a state level. If a state is going to have a sales tax, then everyone in the state should be subject to it, ne exemptions for special interest groups, or the sales tax should be eliminated and no one in the state should have to pay it.
Not meaning to drag this out but basically what you say is true. However, that is not reality. Many religious organizations are exempt from all taxes. Many political organizations are exempt. Many types of medical items are exempt and if they weren't, there would be such a roar from the the elderly organizations, it would be changed immedeately. In many states food is exempt. The elderly in my area get a 10% off on many taxable items. Look at your federal tax structure. The elderly also get several exemptions. All taxes are subject to many rules and laws in different states, counties, cities, towns, etc. It would be virtually impossible to coordinate all such taxation ideas. You are probably correct to a point but I wouldn't want to be the person that tries to impliment that everyone pays the same.
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Bedrock of the Community
United States
20753 Posts |
Back to the topic at hand.
I'm in Texas, so anything over $1000 is tax free. The difference is; if you spend $999.99, the State declares that you are purchasing for the purpose of collecting. Sales Tax is charged. However, if you purchase $1000.00, the State declares that you are -investing.- No Sales Tax.
The $1000.00 is an arbitrary number really.
Even here in Illinois there are constant adds on TV saying if you hurry in now for that item, we'll pay the taxes. In reality many places just add the taxes on to the selling price, don't tell you, then they pay the taxes as required.
The above story reminds me of our Electric company. They have communication towers all over the state. By Federal law if a tower is 300 Feet tall, it must fall into certain rules such as Red, White, Red colored every so many feet, Strobe lights at certain elevations, etc. This is comically waved by our Electric company by building all their towers 299 feet high.
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Pillar of the Community
United States
547 Posts |
In PA no sales tax on coins or bullion but books, supplies etc are taxable. PA actually removedthe sales tax from coins & bullion a year ago. Prior to that, they were taxable.
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Pillar of the Community
United States
1231 Posts |
We have no sales tax here in New Hampshire, so I never have to pay any
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Replies: 28 / Views: 2,245 |
First Page
Posted 08/23/2007 2:39 pm
