what states charge sales tax on coins?

sinin1

I am curious -

I am watching a auction now -

18% buyers premium
6% sales tax

extra if shipping needed (through shipping company)

I really need to rethink my MAX bids

STONE

Now that's ridiculous. What auction is it?

I know that Illinois and Arizona have never charged me tax. I also think it's the same way with New Mexico and Iowa.
Yeh, kind of some pretty random states to know this, but whatever.

AUandAG

State sales taxes apply to sales within the state. So, if you live in California and I live in Nevada I would
NOT charge you a sales tax. Nevada has sales tax on coins, and so does California, but not when sold
outside of the state lines.

So, unless you are in the state that the seller is in, there should be no sales tax. He does not have to
collect the tax and forward to the state if sold outside of his state.

bob

ricko

AUandAG is correct... however, many do charge the sales tax and keep it as a premium. Cheers, RickO

MrHalfDime

The question was "What states charge sales tax on coins?", although the OP quickly changed the question to refer specifically to auctions. The tax question also applies, however, to coin shows and B&M sales at a dealer's shop, as well. It is not true to state that sales taxes apply only to sales within the state, because many retailers have established 'nexus' within other states, and charge sales tax to residents of other states, presumably to be reported and paid to that state. If we carried this foolishness to its ultimate conclusion, every dealer in every state would charge every customer the state sales tax from his home state. Many states are trying to collect data from on-line sales outlets like eBay, to make sure that every resident is paying his proper tax.

The People's Republic of Maine never saw a tax that it didn't love, which is why we are the number 1 most heavily taxed state in the union. Fortunately, we don't host too many large coin shows or coin auctions, because the tax man has been known to frequent coin shows to monitor sales. Large coin shows and coin auctions should only be held in states that exempt state sales tax on coin purchases, in my opinion.

sinin1

Thanks MrHalfDime for bringing back to question


also if a state does not charge for out of state sales - many resident states require - USE TAX - for items purchased in other states


so back to the question - what states charge sales tax on coins, or do all states charging sales tax, require it on coins/bullion


the auction was in Pennsylvania - when they got to the coin section, they said no sales tax on coins but there is sales tax on currency - they had 2 lots with mixed and needed to charge sales tax on them

ModernCrapNut

Ohio charges sales tax on coin sales, and if we buy coins on the internet (or any other item) on which we are not charged sales tax, we are supposed to declare the total amount on our state income tax form and pay sales tax there. Of course I do this each year.