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Sales Tax Laws Concerning Coins

JrGMan2004JrGMan2004 Posts: 7,557 ✭
in U.S. Coin Forum
What are the Sales Tax Laws in your state in regards to Purchasing Coins? For Florida, US Coins under $500 are exempt from Sales Tax.
-George
42/92

Comments

  • cosmicdebriscosmicdebris Posts: 12,332 ✭✭✭
    No Tax at all on coins in CT.image
    Bill

    image

    09/07/2006
  • BillJonesBillJones Posts: 33,948 ✭✭✭✭✭
    To clarify, in Florida there is no sales tax on U.S. coins. image For foreign coins and bullion there is sales tax on sales that total less than $500. The state requires the collection of sales tax on all token and medal sales. image

    In Massachusetts there is sales tax on all coin sales that are less $1,000. On coin and bullion sales of $1,000 or more there is no tax.

    In New Hamphsire there is no sales tax on anything. imageimageimage
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    No tax in Illinois!image
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • FC57CoinsFC57Coins Posts: 9,140 ✭
    Yeah - but you guys don't have state tax! I'll take that deal anytime!
  • foodudefoodude Posts: 3,568 ✭✭✭
    Does anyone have a complete list for all states?
    Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
  • fcloudfcloud Posts: 12,133 ✭✭✭✭
    I think every county in Wisconsin has a different rate. Base rate here is 5.00%, and then the counties add anywhere from 0.01 to 0.06.

    President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay

  • ms71ms71 Posts: 1,537 ✭✭✭✭✭
    No sales tax (or income tax) in NH.
    Successful BST transactions: EagleEye, Christos, Proofmorgan,
    Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins

    Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.

    My mind reader refuses to charge me....
  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    Well here in Iowa they have a law which states that if you buy mail order eBay internet or any other means from outside the state then you should send the state a check for 5% of the purchase price. At one coin show awhile back a dealer required sales tax cuz I wrote a check while another did not.
    theknowitalltroll;
  • cosmicdebriscosmicdebris Posts: 12,332 ✭✭✭


    << <i>Yeah - but you guys don't have state tax! I'll take that deal anytime! >>



    Yeah you're right CT does have a State Income Taximage
    Bill

    image

    09/07/2006
  • nOoBiEeEnOoBiEeE Posts: 1,011 ✭✭
    Sales tax in NJ image
    Wanna See Some True Rainbow Toned Jeffferson Nickels??
    image
  • CoulportCoulport Posts: 1,087 ✭✭✭
    Utah has no tax on coins or bullion at the present time.

    However, our glorious legislature is reported to have the measure on the table.

    There is need for increased funding for education in a State that has one of the highest birth rates per family and the lowest per capita spending per student, so they say.

    "It's for the children", you know. image
    The most money I made are on coins I haven't sold.

    Got quoins?
  • beartracks42beartracks42 Posts: 2,834 ✭
    There is no sales tax on coins or currency in Ohio. This year, there was a line item for entering tax on all internet purchases!!!
    Gary
    image
  • nwcsnwcs Posts: 13,386 ✭✭✭
    Tax on all coins here in Tennessee. Although you don't seem to pay them at coin shows. image
    Blog and Pics
  • barberloverbarberlover Posts: 2,228 ✭✭


    << <i>Tax on all coins here in Tennessee. Although you don't seem to pay them at coin shows. image >>



    Ditto that in Minnesota, the I.R.S. can go imageimage themselves !!!

    Les
    The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.
  • CarlWohlforthCarlWohlforth Posts: 11,074 ✭
    There is no Sales Tax in California only if your purchase is $1,000 or more. Since most of my coins are less than that I lose sales because the tax for sales less than the grand is %8.25 in my county.
    Carl's Coins website w/ links to Carl's auctions
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    In Texas there is sales tax on all coin sales that are less $1,000. image
    On coin and bullion sales of $1,000 or more there is no tax. image
    We are also proud that (so far) we have no Texas state income tax!! imageimage

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • XpipedreamRXpipedreamR Posts: 8,059 ✭✭
    No tax on anything here in Ouagadougou.




    image
  • tonyhartonyhar Posts: 1,598
    Whats Sales Tax????
    By the way our Income Tax is 10%
    Tony Harmer
    Web: www.tonyharmer.org
  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭
    No sales tax on anything in OR.
    coinimaging.com/my photography articles Check out the new macro lens testing section
  • quattrocoinsquattrocoins Posts: 1,881
    Why is it that states as different as Ca. and Texas feel compelled to "punish" buyers of <$1000 coins.
    Another gaping loop-hole for the rich!image
    FULL Heads RULE!

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