Should I pay sales tax on Superior FUN auction?

greghansen

I bought a $500 coin at the recent auction held by Superior just prior to the FUN show. I couldn't make auction pick up so payment and delivery were handled through the mail. Shortly after the auction I received an email with an invoice that included the winning bid price, the buyers premium and postage expenses for delivery. I called superior and gave them my credit card information. Yesterday the coin arrived with another invoice. The new invoice had all of the above PLUS a sales tax charge of about $33. I live in Florida. Don't pay sales tax on coins here. The auction was held in Florida. I know superior is not a Fla. company. I hate to go back and read through the entire auction rules to see if I am stuck with this. Bought coins in both the B&M and Heritage auctions and don't remember paying any sales taxes on those auctions.

Does anybody know whether I should be paying sales tax on the Superior FUN show auction?

Steve27

If there's no sales tax in Florida, and you bought the coin in Florida, then there's no sales tax.

greghansen

I havn't got my credit card bill yet, so I don't know if they really tacked on the sales tax or whether maybe just the printed invoice sent with the coin is in error. I'll call Superior customer service to see if they really added sales tax on before I get too shook up.

keithdagen

Bought coins in both the B&M and Heritage auctions and don't remember paying any sales taxes on those auctions.

Yer lucky, I get hit with 8.25% for everything I do through Heritage if the bill is under $1,000.

paigowjohnny

<< <i>Yer lucky, I get hit with 8.25% for everything I do through Heritage if the bill is under $1,000 >>




keithdagen...me too. Heritage conveniently has offices in California as well...so they can hit us with the tax.

meos1

There sales tax is dealt under the jurisdiction of the state in which the sale to place. If the sale occurred in Fla then fla tax aplies, if on the moon then sales tax for the moon applies.

EVillageProwler

My hunch is that the sales tax policy in FL is zero if over a certain amount. I won two (relatively) low priced items from the Superior auction. I had them ship to avoid the sales tax.

I also won a very high priced item from the B&M auction. I simply wrote a check, and left with the coin!

EVP

src53

The following is copied from the Florida DOR regs;

TIP # 99A01-13
DATE ISSUED: 06/30/99

Sales Tax Exemption Available for U.S. Legal Tender
and Certain Sales of Other Coins, Currency, or Bullion

Effective July 1, 1999, the sale of coins and currency that are U.S. legal tender is no longer taxable. The sale of any other coin and any other currency with a price of more than $500, and the sale of gold, silver, and platinum bullion with a price of more than $500, is exempt.

For coins and currency that are legal tender of the United States, no tax is imposed regardless of whether the sales price exceeds the face value. It does not matter whether the coins or currency are in circulation.

For coins and currency that are not legal tender of the United States, tax is imposed at the rate (unchanged) of 6% of the sales price, unless the coins or currency have a sales price that exceeds $500. When the sales price exceeds $500 for a single sale, the transaction is exempt from sales and use tax. Note: The present exemption for coins and currency of general circulation that are legal tender of another nation, when exchanged solely for use as legal tender at an exchange rate based on its relative value, is not affected by this change.

Sales of gold, silver, and platinum bullion are exempt if the sales price exceeds $500 in a single transaction. A single transaction could include a combination of gold, silver, or platinum bullion.

Dealers must maintain proper documentation to show that each sale, or that portion of each sale, is exempt from the tax imposed. Failure to keep proper documentation may subject an otherwise exempt sale to tax.