APMEX now charging Tax?
golfer72
Posts: 3,588
There was a thread about this a few weeks back. I live in NY and was told on that thread that as long as the order is over $1000 there is no tax. I thought this was correct since I had not been charged tax on several previous orders. I went to order more gold today and they are trying to charge tax now. I aborted the order before I pushed play. Does this have something to do with the new year? 
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<< <i>Might be a program flaw. Try giving them a call this afternoon. >>
<< <i>They were in the news for paying the deposit on some Wall St. office space in 3 1-kilo gold bars to Donald Trump (the building owner). I'm guessing in-state property = in-state sales tax. >>
That was discussed in the previous thread but someone said greater than 1K no tax.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>They were in the news for paying the deposit on some Wall St. office space in 3 1-kilo gold bars to Donald Trump (the building owner). I'm guessing in-state property = in-state sales tax. >>
That was discussed in the previous thread but someone said greater than 1K no tax. >>
Depends on State and yes, having a presence in the State does make a different. I was really PO'ed when Cabela's moved to my State. Now I get to pay shipping and sales tax if I buy something from them because they put a store in 200 miles away!
Tulving
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<< <i>Just buy from Tulving. Problem solved.
Tulving >>
I have used Tulving before but they are a pain in the ass with the whole bankwire thing. APMEX is easy with accepting personal checks.
<< <i>
<< <i>Just buy from Tulving. Problem solved.
Tulving >>
I have used Tulving before but they are a pain in the ass with the whole bankwire thing. APMEX is easy with accepting personal checks. >>
And their website sucks, and I have been buying generic PCGS gold coins which I have a hard time finding on Tulving. Anyway thanks everyone for responding to my question.
<< <i>So what was APMEX' reply? >>
Have not heard back from them.
<< <i>I was at the APMEX site yesterday after not being there for a few months and noticed on some products there ia a little square that reads "IRS EVENT". That's new to me, no idea what has changed. >>
Inventory Reduction Sale....
<< <i>I was at the APMEX site yesterday after not being there for a few months and noticed on some products there ia a little square that reads "IRS EVENT". That's new to me, no idea what has changed. >>
No tax yet for State of MD residence. APMEX has an office in NY, as such, residence of that wonderful state are subject to NY Sales Tax.
<< <i>If true they will lose my business. I was ready to click submit order the other day when I noticed they added $385 tax. Glad I saw it! >>
NOT exempt from NY State taxes on bullion.
Sales of bullion for greater than $1,000.00 that do not depend on the value of the metal content and
sales of bullion for less than $1,000.00 are subject to tax regardless of the purchaser's intent to hold
the bullion as an investment. Any bullion purchased exempt under the new provision of law but later
converted to self-use would be subject to $ sales or use tax, as the case may be.
New York State Department of Taxation and Finance
Did you try to purchase gold coins and not bullion?
<< <i>It was coins but I have also done bullion ( both for well over 1K) and have not gotten taxed on either. What the heck does "do not depend on the value of the metal content" mean?
I was wondering myself... could it be a gold coin, that has a build in numismatic value, at a certain % higher than bullion?
Remember, APMEX just recently acquired a branch in NY and any sales prior to their acquisition were exempt from NY tax.
<< <i>
<< <i>It was coins but I have also done bullion ( both for well over 1K) and have not gotten taxed on either. What the heck does "do not depend on the value of the metal content" mean?
I was wondering myself... could it be a gold coin, that has a build in numismatic value, at a certain % higher than bullion?
Remember, APMEX just recently acquired a branch in NY and any sales prior to their acquisition were exempt from NY tax. >>
Yeah the NY office issue was discussed a few weeks ago. I emailed them and have not gotten a response. Maybe due to the holiday weekend. I will follow up tomorrow and let everyone know what I find out. Thanks for the ideas also!