Nube Question: Are all the Bullion "Houses" Charging Internet Sales Tax Now?
7Jaguars
Posts: 7,449 ✭✭✭✭✭
I noticed as I got ready to pull the trigger today that places such as Apmex and BullionExchange now charge sales tax. is that true now for all these outfits?
Love that Milled British (1830-1960)
Well, just Love coins, period.
Well, just Love coins, period.
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It depends on the state. In Washington, precious metals aren’t taxed but anything else is.
Until dealers fine tune their software for varying state income tax exemptions they will likely continue to treat everything taxable based on the standard sales tax for each state. Kinda like the old "kill them all and let God sort them out" mentality.
For states that have modified or no applicable sales tax on precious metals and an out of state dealer charges the standard sales tax, best to contact dealer first to discuss the tax charge. I know from experience that MCM charges FL sales tax on my tax exempt FL bullion purchases on ebay and then automatically refunds the tax charge via paypal the next day. Before calling the dealer first review your state's sales tax policy on-line concerning exemptions. This will prepare you for your phone call to the dealer.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Coinexchange267 & baypreciousmetals DO NOT
Technically some states (or commonwealths) charge a sales tax on internet orders, and some bullion houses collect it for them.
Careful research will save some $$.... Many small businesses just do not want the hassle... I have seen this on other items....Cheers, RickO
Just a matter of time before small sellers get caught up in the requirement to collect state sales taxes on behalf of the states.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
On eBay...the day of reckoning is Jan 2019. However, eBay will handle the tax collection & disbursement to the "money grabbing" States.
wonder how much this will add to the fees. If it affects stores only, a lot of stores will close.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Liberty coin on ebay did not....That was on platinum.
Well, just Love coins, period.