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Taxes

AbueloAbuelo Posts: 1,759 ✭✭✭✭✭
in World & Ancient Coins Forum

Given that now auction houses will charge taxes to all sales on states with no exemptions, do you think the venues will change? Just think that NY charges up to 8.875% on sale taxes. Imagine next January you buy a 5K coin and on top of fees, you have taxes...

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    AbueloAbuelo Posts: 1,759 ✭✭✭✭✭

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    TomBTomB Posts: 20,729 ✭✭✭✭✭

    @Abuelo said:
    Given that now auction houses will charge taxes to all sales on states with no exemptions, do you think the venues will change? Just think that NY charges up to 8.875% on sale taxes. Imagine next January you buy a 5K coin and on top of fees, you have taxes...

    "No exemptions" isn't exactly true. If you have a valid sales tax number you are exempt. Many casual dealers might attempt to fly under the radar and not have a sales tax number, but most of us have one.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

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    thefinnthefinn Posts: 2,653 ✭✭✭✭✭

    So I guess it will be cheaper to have your auction wins paid for with a check mailed in , then mailed to you, than to pay for and pick them up in person.

    thefinn
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    AbueloAbuelo Posts: 1,759 ✭✭✭✭✭
    edited November 4, 2018 6:36AM

    @TomB that is true, for dealers. But collectors do not have resale tax numbers...

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    SaorAlbaSaorAlba Posts: 7,475 ✭✭✭✭✭

    I sense an off-shore opportunity on the horizon.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
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