National Internet sales tax: What becomes of coin sales over the net?
Manorcourtman
Posts: 7,893 ✭✭✭✭
There have been numerous articles recently about the coming of a uniform internet sales tax. Numerous states see it as a cash cow that they have yet to milk. Reuters reported that Congress is going nowhere fast with attempts to come to an agreement over the issue Reuters article. What will happen to coin sales over the net, specifically eBay? I suspect thousands of non-tax compliant eBay sellers will vanish into the night over this issue as I believe all sales will be tracked and reported by eBay eventually. Do you think coin sales in general via the internet will wither? Will coin shows come back in vogue? Your thoughts on the tax and how it will effect coins..........
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Comments
Goodbye ebay,
Helllllooooooooo BST!!!
Coin buyers are a cheap bunch. They won't want to pay any tax.
If required to pay sales tax to 50 different states many eBay sellers will simply drop out. Buyers already adjust their bids downward for shipping charges. They will do the same for sales taxes.
The decline from democracy to tyranny is both a natural and inevitable one.
Will coin shows come back in vogue? <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<.....no
Your thoughts on the tax and how it will effect coins....<<<business as usual after a lil snibbeling here n there ...oh and the more $$$ collected will still have us going behind
<< <i>Tax is not going to happen. Governments suck too much from us already and are bloated beyond reason. >>
I hope you are right. I fear you are not.
Mercury
<< <i>Thanks obama and all of you that vote obama!!!!!!!!!!!!!!!!!!!!!! >>
Your welcome and Ill do it again
EAC 6024
I'm reviving distant memories of a news article invoving the IRS going after one of their own for tax evasion on eBay sales the IRS person claimed was not a business but the IRS said was.
and here we come to sales tax.
who is a business and who isn't? Some clearly established places are.
""Personal Accounts?"" Well, I can see eBay needing to have some guidelines on sales tax compliance.
In short, ""personal"" selling on eBay is going to get even more tricky (note PayPal reporting requirements).
Otherwise, I'm against an Internet Sales Tax. Although, I'd like to hear what people say to this: B&Ms often pay sales tax. Big online sellers don't on internet sales. Doesn't a sales tax put a burden on B&Ms that online sellers do not have? Why burden one but not the other? Would anyone propose unburdening B&Ms ??
I think you're confusing state sales taxes imposed on intra-state sales, with the prospect of nationwide mandated interstate sales taxes. A B&M seller isn't mandated to collect sales tax presently from an out of state purchaser unless the purchase is physically consummated within the state where the B&M is established, or to neighboring states which have a reciprocal agreement already on the books. Big online sellers certainly had better comply with their state tax laws for intrastate sales if they want to survive. The whole concept of a nationally mandated sales tax is on the same level of thinking as what Congress had in mind for the 1099 FUBAR. Ask a Canadian sometime about what benefit they see from the nationwide GST that they pay on top of PST(Provincial, a.k.a state tax). You won't like the response from anyone.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
<< <i>It will be a big pain in the as$, unless the national sales tax rate is uniform. For this state, I have to break down each county individually every month for sales to that county in NC. Luckily , i dont have that much in state ebay sales. The in store sales are simple becuase it s all one county, where the item is delivered at. >>
The national rate could be uniform as far as "internet" sales tax goes. Otherwise each seller could have a state code and eBay would just auto-add the tax. Frankly it would be simpler to let eBay collect it for the states.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>"Otherwise, I'm against an Internet Sales Tax. Although, I'd like to hear what people say to this: B&Ms often pay sales tax. Big online sellers don't on internet sales. Doesn't a sales tax put a burden on B&Ms that online sellers do not have? Why burden one but not the other? Would anyone propose unburdening B&Ms ??"
I think you're confusing state sales taxes imposed on intra-state sales, with the prospect of nationwide mandated interstate sales taxes. A B&M seller isn't mandated to collect sales tax presently from an out of state purchaser unless the purchase is physically consummated within the state where the B&M is established, or to neighboring states which have a reciprocal agreement already on the books. Big online sellers certainly had better comply with their state tax laws for intrastate sales if they want to survive. The whole concept of a nationally mandated sales tax is on the same level of thinking as what Congress had in mind for the 1099 FUBAR. Ask a Canadian sometime about what benefit they see from the nationwide GST that they pay on top of PST(Provincial, a.k.a state tax). You won't like the response from anyone. >>
true
one is national and one is state.
but I still point out that there is an advantage to those that have to pay one but not the other.
But it's a tough position to take due to the state/federal diference.
How about a new question:
Why is no one proposing an HSN/QVC/tv shopping Federal Sales Tax? Mail Order Federal Sales Tax? Maybe anything interstate sold in any form should be taxed?
I guess instertate business transactions are exempt? But don't businesses want to be considered """"citizens"""" now ??
(Seems like a new tax and a money grab to me. May as well go into taxing the number of doors and windows in a house, and there is always the tax collection tax to offset the costs incurred by the IRS, after that we could have the special salary tax to ensure the members of congress gets their salary even if the country goes bankrupt.... I've got more taxation ideas if anyone wants to hear them)
Now...to our wonderful goberment....just how many more mountains of paperwork do you wish to create out of your greed to tax everything unhumanly possible! This will be another logistical nightmare...just like the reporting crap you try to force down everyone's throat with the Obummer welfare health plan.
On those who choose to protest the tax laws, I would just say not a road most want to go down given the hazards of doing so.
http://the-moneychanger.com/answers/the_most_dangerous_man_in_the_mid_south
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
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800-381-2646
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Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Tax is not going to happen. Governments suck too much from us already and are bloated beyond reason. >>
Not a "new" tax. There is already a required state sales tax on all internet sales, except for specifically exempted items such as coin sales in Florida. On-line sellers are required by current state tax laws to collect and pay the tax on behalf of in-state buyers, just as retail stores do it. The problem for states is that out-of-state on-line buyers are required to report and pay the sales tax to their home state, but they don't. For collection of out of state internet sales tax, the burden is currently put on the buyer. Since they are missing out on an already mandated very large source of revenue, states will figure out a way to require sellers to collect and pay the state taxes on out-of-state on-line sales. It will have to be a national effort on behalf of the individual states.
For there to be a "federal internet sales tax" I believe there would first have to be a mandated federal sales tax, which does not exist.
The decline from democracy to tyranny is both a natural and inevitable one.
<< <i>seems to me that the government and media talking heads have brainwashed nearly all of you. I am reading arguments on how to best implement a national tax, not reading arguments on why it is stupid to implement yet another tax. How about the government work on shrinking its "need" to suck up your money? How about governments at all levels getting smaller, spending less? How about arguments on why all of us deserve to keep more of our own money rather than piss is away on some government pork? >>
<< <i>I care what they do. We'll weather whatever attack on business they can come up with. >>
Fixed it for me so I can agree.
<< <i>seems to me that the government and media talking heads have brainwashed nearly all of you. I am reading arguments on how to best implement a national tax, not reading arguments on why it is stupid to implement yet another tax. How about the government work on shrinking its "need" to suck up your money? How about governments at all levels getting smaller, spending less? How about arguments on why all of us deserve to keep more of our own money rather than piss is away on some government pork? >>
We here in Oregon are doing just fine without a sales tax. The folks on the Washington side of the Columbia River have it best both ways. Washington people can drive across the river and buy in Oregon without sales tax. Then they can go back home to Washington State and be happy about the fact that their state has no income tax.
I believe that any extra taxes will simply kill business.
<< <i>seems to me that the government and media talking heads have brainwashed nearly all of you. I am reading arguments on how to best implement a national tax, not reading arguments on why it is stupid to implement yet another tax. How about the government work on shrinking its "need" to suck up your money? How about governments at all levels getting smaller, spending less? How about arguments on why all of us deserve to keep more of our own money rather than piss is away on some government pork? >>
For anyone who doesn't think sales tax hurts, I always hesitate to buy coins here in Kalifornia, since there are taxes on coins under $1500 total. The extra nearly 10% is just enough to turn a decent deal into paying too much, or turn a bargain into a so-so deal.
JJacks
If taxes are so bad, THEN vote for people who want us to pay zero taxes. All taxes are bad right?
That way, will will have no military, no civilian (military contractors), no police, no fireman, no new roads, let all the existing roads and bridges decay (oh they already are), no national park system, no jails, no border patrol, no etc, etc, etc ....
<< <i>Taxes are bad, taxes are bad, taxes are bad .... is all you hear from the one side.
If taxes are so bad, THEN vote for people who want us to pay zero taxes. All taxes are bad right?
That way, will will have no military, no civilian (military contractors), no police, no fireman, no new roads, let all the existing roads and bridges decay (oh they already are), no national park system, no jails, no border patrol, no etc, etc, etc .... >>
I think the people are more resourceful with their money than the government is with it. Ever try to get food vouchers ? A guy could starve to death by the time it's declined.
<< <i>
<< <i>Tax is not going to happen. Governments suck too much from us already and are bloated beyond reason. >>
Not a "new" tax. There is already a required state sales tax on all internet sales, except for specifically exempted items such as coin sales in Florida. On-line sellers are required by current state tax laws to collect and pay the tax on behalf of in-state buyers, just as retail stores do it. The problem for states is that out-of-state on-line buyers are required to report and pay the sales tax to their home state, but they don't. For collection of out of state internet sales tax, the burden is currently put on the buyer. Since they are missing out on an already mandated very large source of revenue, states will figure out a way to require sellers to collect and pay the state taxes on out-of-state on-line sales. It will have to be a national effort on behalf of the individual states.
For there to be a "federal internet sales tax" I believe there would first have to be a mandated federal sales tax, which does not exist. >>
IIRC, Iowa has a had a mail order tax since the mid 1930s. At this point it is incumbent upon the buyer to remit the tax to the state. IMO internet buying is just another form of mail order. Most places still accept mail order or you can phone it in or order online. Before they lifted the tax on coins here, it was expected that if I bought a coin "mail order" from out of state that I would send Iowa a check for the sales tax. The states shud get together and decide on one rate, although these days with the ability to readily program computers it isn't that big of a deal. It would be unfair to single out eBay users as the only ones required to pay sales taxes. I can see where it would be easier if eBay/PP collected the tax instead of having hundreds of thousands of little sellers do it. There would be some issues for those who pay by other than PP. Having to suffer a lower sales price because buyers would be figuring it into their bids would already be punitive enough.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Step 1: Whining, complaining, virtual temper tantrums
Step 2: Empty threats to "leave" the Internet and not buy coins on eBay
Step 3: Moment of clarity and realization that the Internet is here, with or without sales tax
Step 4: Whining, complaining, and more temper tantrums over higher prices paid due to sales tax
Step 5: Indignation over actually having to pay the sales tax
Step 6: Receipt of a wonderful coin found on the Internet
Step 7: Finding something new to whine about
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
<< <i>Taxes are bad, taxes are bad, taxes are bad .... is all you hear from the one side.
If taxes are so bad, THEN vote for people who want us to pay zero taxes. All taxes are bad right?
That way, will will have no military, no civilian (military contractors), no police, no fireman, no new roads, let all the existing roads and bridges decay (oh they already are), no national park system, no jails, no border patrol, no etc, etc, etc .... >>
Give me a break! I don't know ANYBODY who is for zero taxes! So, your arguement is just plain stupid. What everybody is against is too much tax and wasteful spending of these taxes. If the government didn't waste so much money, I would think most people would not have as much of a problem with taxes. But alas, we all know how much is wasted every single year. How does a state like California (who collects 350 BILLION dollars a year in taxes) go bankrupt???? Certainly, not because taxes are too low in California. LOL!!!!
<< <i>seems to me that the government and media talking heads have brainwashed nearly all of you. I am reading arguments on how to best implement a national tax, not reading arguments on why it is stupid to implement yet another tax. How about the government work on shrinking its "need" to suck up your money? How about governments at all levels getting smaller, spending less? How about arguments on why all of us deserve to keep more of our own money rather than piss is away on some government pork? >>
You sir, should run for President.
I can forsee a lot of ebay sellers getting hit with an estimated tax bill for doing something wrong.
I will not pay sales tax at a show unless the dealer has his permit with him or has sales invoice. Short of that i pass.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>
<< <i>Taxes are bad, taxes are bad, taxes are bad .... is all you hear from the one side.
If taxes are so bad, THEN vote for people who want us to pay zero taxes. All taxes are bad right?
That way, will will have no military, no civilian (military contractors), no police, no fireman, no new roads, let all the existing roads and bridges decay (oh they already are), no national park system, no jails, no border patrol, no etc, etc, etc .... >>
Give me a break! I don't know ANYBODY who is for zero taxes! So, your arguement is just plain stupid. What everybody is against is too much tax and wasteful spending of these taxes. If the government didn't waste so much money, I would think most people would not have as much of a problem with taxes. But alas, we all know how much is wasted every single year. How does a state like California (who collects 350 BILLION dollars a year in taxes) go bankrupt???? Certainly, not because taxes are too low in California. LOL!!!! >>
Some people can't seem to get it through their heads that we already spend like 99 zillion zillion dollars on public education that almost everyone agrees is a disaster and spending another 10 zillion zillion on it isn't going to do a bit of good. Saving money by actually requiring standards and actually holding people up to them could actually make our country run better for less cost - not more.
JJacks
<< <i>
Some people can't seem to get it through their heads that we already spend like 99 zillion zillion dollars on public education that almost everyone agrees is a disaster and spending another 10 zillion zillion on it isn't going to do a bit of good. Saving money by actually requiring standards and actually holding people up to them could actually make our country run better for less cost - not more.
JJacks >>
Oh, one more thing - if I decide not to buy a coin because of a sales tax, that didn't raise any revenue anyway, did it? And it might push down a dealer's earnings (not just with me, but if the public slows down buying), which will reduce their income tax anyway. Yep, great idea.
<< <i>
<< <i>
Some people can't seem to get it through their heads that we already spend like 99 zillion zillion dollars on public education that almost everyone agrees is a disaster and spending another 10 zillion zillion on it isn't going to do a bit of good. Saving money by actually requiring standards and actually holding people up to them could actually make our country run better for less cost - not more.
JJacks >>
Oh, one more thing - if I decide not to buy a coin because of a sales tax, that didn't raise any revenue anyway, did it? And it might push down a dealer's earnings (not just with me, but if the public slows down buying), which will reduce their income tax anyway. Yep, great idea. >>
The taxes collected from those who will buy and pay the tax, will more than offset the revenue lost from those who don't buy because of the taxes.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
<< <i>Will this nation ever find the courage to remember and emulate the self reliance that our forefathers founded it upon? >>
As long as politicians can depend on votes from people in exchange for a promise to give them free stuff paid for by other people, then- no.
<< <i>
The taxes collected from those who will buy and pay the tax, will more than offset the revenue lost from those who don't buy because of the taxes. >>
OK, again even assuming that's true, putting all the money into govt will do what? Push our education system down more? Create more govt red tape? Create new govt positions where they will sit around thinking about new ways to fine people? Where they sit around thinking about new taxes? Where they do more street repairs on roads that don't need it? (Not that some don't need it, but I've seen them tear up and redo streets that were perfect). Create more money for the mayors, congressmen, and other officials to steal? Give more perks like free internet and cable T.V. to the worst of the worst criminals?
JJacks
The decline from democracy to tyranny is both a natural and inevitable one.
<< <i>
<< <i>
The taxes collected from those who will buy and pay the tax, will more than offset the revenue lost from those who don't buy because of the taxes. >>
OK, again even assuming that's true, putting all the money into govt will do what? Push our education system down more? Create more govt red tape? Create new govt positions where they will sit around thinking about new ways to fine people? Where they sit around thinking about new taxes? Where they do more street repairs on roads that don't need it? (Not that some don't need it, but I've seen them tear up and redo streets that were perfect). Create more money for the mayors, congressmen, and other officials to steal? Give more perks like free internet and cable T.V. to the worst of the worst criminals?
JJacks >>
They have the power to levy taxes. They don't seem to be required to have to justify the new or higher taxes.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>Like the Boston Tea Party. People would start dumping Wheat Cents into the bay. >>
Just not the e bay!!
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>Thanks obama and all of you that vote obama!!!!!!!!!!!!!!!!!!!!!! >>
It's the Republican-led National Governor's Association and big B&M stores that are pushing for this. And it's not a new tax, but enforcement of the tax laws on the books for decades.
"This discussion isn't about raising taxes or adding new taxes," Governor Haslam (R-TN) said. "This is about states having the flexibility and authority to collect taxes that are already owed by their own in-state residents."
<< <i>
<< <i>Thanks obama and all of you that vote obama!!!!!!!!!!!!!!!!!!!!!! >>
It's the Republican-led National Governor's Association and big B&M stores that are pushing for this. And it's not a new tax, but enforcement of the tax laws on the books for decades.
"This discussion isn't about raising taxes or adding new taxes," Governor Haslam (R-TN) said. "This is about states having the flexibility and authority to collect taxes that are already owed by their own in-state residents." >>
Political BIAS at it's best.
Like Dickens said, "the biggest threat to mankind is IGNORANCE and want"