CSNS new from the March 6th issue of Coin World, page 24.

keets · February 28, 2006 2:45AM

Evidentally the naysayers are being proven wrong again as the general chairman for the April 26-29 Central States Numismatic Society Show being held in Columbus reports that the host and backup hotels have sold out. The TaxGate scandal and the resultant knee-jerk sales tax issue would seem to have not dampened enthusiasm for dealers or collectors, though there are still tables available on the bourse. Some of you may recall the show held at the location several years ago; I couldn't attend but read about here with regrets. I anticipate another monster(and you can quote me on that).

What sucks is that I haven't booked a room for Thursday and/or Friday nights yet, ever the procrastinator. Maybe I'll get an offer from a resident member who'll let me sleep in the garage!!!

Al H.

TheRaven · February 28, 2006 2:49AM

This does not mean that buisness at the show might not be affected by the tax on the coins.....

It is possible that some people from outside of Ohio don't know about this tax and could be in for a nice surprise when they go to purchase an item.....

I am looking forward to the show that is all I know..... Debating to take a day off of work and go on Friday or go on Saturday

WTCG · February 28, 2006 2:52AM

Sales tax has to be paid at most coin shows. The requirement to charge sales tax in Ohio does nothing other than make all coin shows in Ohio the same as coin shows in California or New York state. The majority of coin dealers do not mind having to charge sales tax for sales to the public.

TheRaven · February 28, 2006 2:58AM

Well I mind paxing that tax.....

the socialist country of California doesn't mean anything tax wise to me.....

keets · February 28, 2006 3:02AM

hey Raven, how do you feel about Pa. shows and the tax you pay there??

WTCG · February 28, 2006 3:03AM

<< Well I mind paxing that tax.....

the socialist country of California doesn't mean anything tax wise to me..... >>

It does to those who conduct business in California for more than 14 days per year.

How about all the other state that collect sales tax on coins? The non-taxable states are in the minority.

Michigan · February 28, 2006 6:10AM

Since the show was booked long before the Ohio sales tax on coins became law I would expect many
dealers decided "what the heck" and decided to give it a trial run and see how it goes in dealing with
the tax situation. The real test will be how successful the show is and will they rebook it in Ohio sometime
in the future. I think eventually the complaining will go away and people will just get used to dealing
with the Ohio tax.

Expect Ohio tax agents to be undercover on the floor of the show making sure that dealers are
collecting the tax.

weresteve · February 28, 2006 6:28AM

<< The non-taxable states are in the minority. >>

I for one am glad that I live in one of those minority states and fwiw the only shows I have attended thus far have been in non-taxable states.

TheRaven · February 28, 2006 6:40AM

I have never been to a show outside of Ohio at this point.

Was never needed as I found the coins I wanted at the shows locally for me and there was enough of them.

As i am looking for more things and there are less coins I will likely have to go to shows, but I would rather go to Michigan where they are smart have currently have no tax.

I heard from my brother who lives in Las Vegas that Nevada just rejected an attempt at taxing coins, they determined the tax income would be much less then what they would lose in all the other taxes that they take in. I will have to go to a show out there and see what one of those big ones are like next time I go out there.

I just don't understand how there can be a tax on legal tender coins and currency is the US, seems illegal to me.....

VamGuy · February 28, 2006 9:07AM

<< Expect Ohio tax agents to be undercover on the floor of the show making sure that dealers are collecting the tax. >>

It will be interesting to see the fallout when the first dealer is ticketed, arrested, and/or carried out in handcuffs for failure to collect.

<< The majority of coin dealers do not mind having to charge sales tax for sales to the public. >>

And you base this statement on... what???

First of all, no dealer "charges" sales tax, they "collect" it. Collecting sales tax, keeping records of said tax, making monthly deposits, and filing all proper tax documents in a timely manner amounts to involuntary servitude. The coin dealers in Ohio are now performing a job for the state government for which they are not compensated.

<< How about all the other state that collect sales tax on coins? The non-taxable states are in the minority. >>

It almost sounds as though you'd like to do away with this minority.... this freedom from overtaxation.

Do you enjoy paying tax? Do you hate freedom?

TheRaven · February 28, 2006 10:48AM

Quite a few people have never seen a tax they did not like.....

Conder101 · February 28, 2006 10:42PM

<< The coin dealers in Ohio are now performing a job for the state government for which they are not compensated. >>

Are you sure about that? My sister-in-law does craft shows in OH and has to collect sales tax. When she files and remits to the state she is allowed to keep a percentage as compensation. Here in Indiana it works the same way for the taxes we collect at the carpet shop. We collect 6% of sales and remit 5% of sales to the state.

<< I just don't understand how there can be a tax on legal tender coins and currency is the US, seems illegal to me..... >>

You aren't paying the tax on the coins or currency. You are paying it on the premium above face value that is being charged. Maybe the states should pass laws making it illegal to charge more than face value for legal tender. Then you wouldn't have to worry about taxes!

Of couse you wouldn't have to worry about geting away to coin shows either.

dorancoins · February 28, 2006 11:01PM

While were on the subject of Central States, if you're a member, they're having elections right now and the ballots are in the process of being mailed out. I'm one of the 14 candidates trying to get one of the 10 seats that are open. For more information on the election, go to www.centralstates.info and on the front page there is a link to the elections - just click there. There are some good people running besides myself who really deserve your vote.

JrGMan2004 · February 28, 2006 11:01PM

<< 

<< How about all the other state that collect sales tax on coins? The non-taxable states are in the minority. >>

It almost sounds as though you'd like to do away with this minority.... this freedom from overtaxation.

Do you enjoy paying tax? Do you hate freedom? >>

Do you enjoy public schools? How bout public roads? Public parks? Welfare? Social Security? National Defense? Medical Research? How bout all these things that the government provides in exchange for the taxes we pay?

Do I hate Freedom and America because I voted last fall for a 1c increase to my county's sales tax to help pay for improvements to the local schools?

TheRaven · February 28, 2006 11:44PM

National defense is the job of the governement along with a few of the things you mentioned.....

A few of the things you mentioned are not the job of the government and should be illegal and no longer apart of the federal government.....

I don't know anybody that is against tax dollars going towards roads and so forth, it is the wasteful spending and the redistribution of wealth that bothers me with my tax dollars.....

That the tax on the premium on the coin and not the coin itself, isn't that my stupidity if I want to purchase a Dollar coin for $500?

CSNS new from the March 6th issue of Coin World, page 24.

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