| Author |
 Replies: 60 / Views: 14,488 |
|
|
|
Pillar of the Community
United States
1659 Posts |
There is sales tax on all coins/bullion/paper money here in the great state of Nevada (eye roll). It's frustrating.
|
|
Moderator
 United States
188440 Posts |
South Carolina - Exemptions Authorized under the Sales and Use Tax Law (Chapter 36 of Title 12)Quote:
12-36-2120
(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.
|
|
Valued Member
United States
79 Posts |
Either Florida doesn't, or just no one cares enough to collect it (I wouldn't be too surprised).
|
|
Bedrock of the Community
United States
17884 Posts |
Coins are taxable in KY, IN, and OH.
|
|
Valued Member
United States
163 Posts |
AFAIR Commiefornia taxes any coins under a certain threshold 1.5 grand (yeah REAL generous aren't they?) They want online companies to give them their records so they can dig up what you buy and charge you sales tax on that. (I'm already getting autocharged on some of my online purchases). They're also working on laws to force you to pay a 'usage' tax on whatever you buy in other states and allow education boards, cities, and counties to levy a whole bunch of taxes they weren't allowed to before.
|
|
Valued Member
United States
289 Posts |
|
|
Valued Member
United States
69 Posts |
I live in Ohio and I visit several coin shops in the area, only one adds sales tax. The others might have it built into their price but don't mention it. I like that idea better, just give me a price and I will hand you the cash. Taxing coins, especially bullion seems odd to me
Jim
|
|
Pillar of the Community
 United States
632 Posts |
Quote:
No tax in NY
I was recently charged tax at a coin shop in NY.  |
|
Pillar of the Community
United States
3345 Posts |
No Sales Tax or income tax in New Hampshire!
Property taxes are ridiculous though.
Whatever happened to separating from England so we didn't have crazy taxes?
(I know, I know, taxation without representation is tyranny--and we have reps here.)
|
|
Pillar of the Community
United States
2049 Posts |
Wisconsin - 5% sales tax plus county tax applies (0.5% where I live).
But...if you are making a trade with a dealer, then there seems to be a loophole where they will not charge tax. I don't know what the parameters are for this and am telling this based on what a dealer told me so don't quote me on this.
|
|
Pillar of the Community
United States
2049 Posts |
Quote:
want to avoid tax. Shop CL or right here on coin community. In Wisconsin, purchases made from out of state are supposed to be taxed so buying on CCF in theory wont get you around the tax requirement for this state. You're supposed to record this on your state tax return but I know many don't. |
|
Pillar of the Community
United States
3294 Posts |
Iowa is not taxed by coins, but they tax your federal income tax refunds.
|
|
Bedrock of the Community
United States
17884 Posts |
Quote:
Whatever happened to separating from England so we didn't have crazy taxes?
(I know, I know, taxation without representation is tyranny--and we have reps here.) We also felt the taxes were unreasonably high. They got all the way up to 3%. |
|
New Member
United States
24 Posts |
I am trying to put together a state by state list of sales tax laws on numismatics, bullion, and paper money. I would appreciate any help from the community. The list is a current work in progress on my website and a free reference for all collectors and investors. Thanks!
|
|
Moderator
United States
188440 Posts |
CA Yes on purchases below $1500
FL No (one stated they have never been charged)
GA No
IA No
IL No (86-130-1910, 35 ILCS 105/3-5, 35 ICLS 120/2-5)
IN Yes
KY Yes
MD Yes on purchases below $1000
MI No
MO No
NH No
NV Yes
NY Yes (although one claims no)
OH Yes
PA No
SC No (SC Code 12-36-2120)
TX Yes on coin/bullion purchases below $1000.00 and on all currency.
WA No
WI Yes |
| |
Replies: 60 / Views: 14,488 |
First Page
Posted 04/27/2011 10:38 am
