Options
Write your congressman about out of state sales taxes:
Julian
Posts: 3,370 ✭✭✭
Sample of letter that can be used:
OPPOSE HR 684 “Marketplace Fairness Act of 2013”
I am extremely concerned about the unintended consequences of HR 684, and I urge you to oppose it.
Some of the very disturbing general points of this bill that you may not have considered are:
1. The proposed legislation authorizes taxes on every kind and character of interstate sales; the word” internet “does not even appear in the bill. The sales or use tax can be imposed upon sales by internet, mail, phone, radio and television, and any other method imaginable.
2. The tax can be imposed not just on “goods” or “items” but upon “services” and “advice,” meaning taxation of such things as legal, accounting, and appraisal services.
3. States could add additional “sales” and/or “use” taxes not previously considered because of lack of physical presence of the sellers; financial services and brokerage services fall in this category as do actual stock and bond transactions as well as commodity transactions.
4. The bill is not clearly prospective and could be retroactive to prior sales made before the passage of the legislation.
5. The bill cannot cover “foreign” sales, giving an incentive to sellers of many kinds of goods and services to establish foreign entities for their sales. This is especially true of Canada.
6. The seller is exposed to as many as 45 annual state audits, plus several territories and possessions and even Tribal auditors – potentially hundreds of taxing authorities.
As an investor in precious metals coins and bars, there are even more unintended consequences that will adversely affect me:
7. Many precious metals products are acceptable for individual retirement accounts (IRAs) and should not be subject to sales/use tax.
8. The US Mint is exempt from the bill, thus giving the Mint a huge competitive advantage over both local and out of state sellers of bullion coins and modern mint issues.
9. Most of the coin and precious metals dealers I know are also buyers and sellers in interstate commerce; the imposition of record keeping for every tax jurisdiction and the potential costs of tax audits far exceeds any competitive advantage existing prior to the passage of the legislation.
Also most coin and precious metals dealers are small businesses that will be swamped by paperwork, subject to hundreds of taxing authorities’ scrutiny, audits and other activities that they haven’t the time, expertise or legal ability to defend against.
I would be happy to discuss this in more detail; please contact me if I can provide more information. I am very interested in your views on this legislation and again urge you to oppose HR 684.
Sincerely,
YOUR NAME, ADDRESS, AND CONTACT INFO
OPPOSE HR 684 “Marketplace Fairness Act of 2013”
I am extremely concerned about the unintended consequences of HR 684, and I urge you to oppose it.
Some of the very disturbing general points of this bill that you may not have considered are:
1. The proposed legislation authorizes taxes on every kind and character of interstate sales; the word” internet “does not even appear in the bill. The sales or use tax can be imposed upon sales by internet, mail, phone, radio and television, and any other method imaginable.
2. The tax can be imposed not just on “goods” or “items” but upon “services” and “advice,” meaning taxation of such things as legal, accounting, and appraisal services.
3. States could add additional “sales” and/or “use” taxes not previously considered because of lack of physical presence of the sellers; financial services and brokerage services fall in this category as do actual stock and bond transactions as well as commodity transactions.
4. The bill is not clearly prospective and could be retroactive to prior sales made before the passage of the legislation.
5. The bill cannot cover “foreign” sales, giving an incentive to sellers of many kinds of goods and services to establish foreign entities for their sales. This is especially true of Canada.
6. The seller is exposed to as many as 45 annual state audits, plus several territories and possessions and even Tribal auditors – potentially hundreds of taxing authorities.
As an investor in precious metals coins and bars, there are even more unintended consequences that will adversely affect me:
7. Many precious metals products are acceptable for individual retirement accounts (IRAs) and should not be subject to sales/use tax.
8. The US Mint is exempt from the bill, thus giving the Mint a huge competitive advantage over both local and out of state sellers of bullion coins and modern mint issues.
9. Most of the coin and precious metals dealers I know are also buyers and sellers in interstate commerce; the imposition of record keeping for every tax jurisdiction and the potential costs of tax audits far exceeds any competitive advantage existing prior to the passage of the legislation.
Also most coin and precious metals dealers are small businesses that will be swamped by paperwork, subject to hundreds of taxing authorities’ scrutiny, audits and other activities that they haven’t the time, expertise or legal ability to defend against.
I would be happy to discuss this in more detail; please contact me if I can provide more information. I am very interested in your views on this legislation and again urge you to oppose HR 684.
Sincerely,
YOUR NAME, ADDRESS, AND CONTACT INFO
PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
0
Comments
``https://ebay.us/m/KxolR5
The Penny Lady®
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
The Penny Lady®
For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.
The Reeded Edge
``https://ebay.us/m/KxolR5
<< <i>It's pathetic when the people are required to do even more, to try and stop the government from doing what we voted for them not to do. >>
I didn't vote it. In fact I polled the streets and knocked on doors to prevent it, but the "low information voter" now rules the country. Politicians are desperate for tax revenue to keep themselves in the style to which they are accustomed and more, while the "low information voters" think that they will get to share the wealth. All they will get will be the crumbs. "Occupy Wall Street" is alive and well.
This little button was issued by Huey Long who opened chapters of the "Share the Wealth Society" all over American in the mid 1930s before he was assassinated. Even Franklin Roosevelt once said that Huey Long was one of the two most dangerous Americans. (Douglas MacArthur was the other one.) Things have not changed.
Here is the reverse of that button.