Question about IL taxes and buying coins online

BBN

Illinois wants to enforce its citizens to pay a tax on any items they order online. Does anyone here know if you have to pay a sales tax for coins? Is numismatics exempt from sales taxes?

STONE

No sales tax on coins in IL

taxmad

All States require their residents to pay use tax on purchases of items subject to tax that were purchased without paying the State's sales tax (internet/catalogue/driving through a neighboring State that has no sales tax).

illini420

CA has pretty high sales taxes, but there is also a CA use tax. Generally, the "use tax" kicks in when us CA residents buy things from out of state and aren't charged a sales tax (or are charged a rate lower than the CA sales tax rate). Of course, out of state online retailers like Amazon.com don't charge the CA use tax, instead us CA residents are responsible for reporting it ourselves on our state income tax returns. At least it's 78 degrees and sunny here right now

MarkInDavis

<< <i>No sales tax on coins in IL >>



Yep, coins are exempt in Illinois.

BBN

<< <i>CA has pretty high sales taxes, but there is also a CA use tax. Generally, the "use tax" kicks in when us CA residents buy things from out of state and aren't charged a sales tax (or are charged a rate lower than the CA sales tax rate). Of course, out of state online retailers like Amazon.com don't charge the CA use tax, instead us CA residents are responsible for reporting it ourselves on our state income tax returns. At least it's 78 degrees and sunny here right now >>




No complaints here either. It was 65 and sunny.


Thanks for your responses folks.