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 Replies: 14 / Views: 3,271 |
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Pillar of the Community
United States
3843 Posts |
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.../20190503166Edited by Joe2007
07/19/2019 2:16 pm
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Moderator
 United States
188415 Posts |
Bummer.
We still have the exemption in SC. For now.
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Bedrock of the Community
United States
94367 Posts |
States with substantial budget deficits are running out of places to look for money.
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Bedrock of the Community
United States
20753 Posts |
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.
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Pillar of the Community
United States
2637 Posts |
So online coin purchasers in Ohio will have to pay the tax come January.
Edited by Arkie
07/20/2019 11:02 am
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Bedrock of the Community
13014 Posts |
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. |
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Pillar of the Community
 United States
3843 Posts |
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.
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Pillar of the Community
United States
789 Posts |
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!
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Bedrock of the Community
United States
94367 Posts |
Are there any major coin shows that rotate through Ohio?
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Valued Member
United States
473 Posts |
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. |
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Pillar of the Community
 United States
7940 Posts |
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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
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Bedrock of the Community
United States
12827 Posts |
That does stink. $5.5 million on a $30B+ annual budget isn't much.
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Bedrock of the Community
13014 Posts |
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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. |
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Pillar of the Community
United States
3843 Posts |
Meanwhile they renewed millions in film subsidies for Hollywood in this budget bill. Makes me sick.
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Pillar of the Community
United States
7940 Posts |
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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. |
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Replies: 14 / Views: 3,271 |
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Posted 07/19/2019 4:32 pm
