Long Beach Dealer Tax Questions...

icsoccer

I am going to Long Beach as a dealer. First time selling in California.

I applied for a temp sellers permit. The agent at the California Board of Equalization said she checked with her "lead" and there appeared to be no taxes on coins, I may need to only fill out form BOE-410d.

She transferred me to a "tax expert". That person said there is a straight 9% tax on all coin sales as they were all "investments". Collect the 9% and pay online. I did need the temp. sellers permit. They said there were no limits to the 9% and yet on the boards I have read something about a $1500 and above means no tax?

Can anyone help clarify these 2 conflicting statements?

If I buy from another dealer, say one that is also from out of state and myself will I be expected to pony up another 9% to that dealer. One from California?

Thanks in advance!
Edited to add my sales are mainly currency and some coins, no bullion.

ThePennyLady

I am a California dealer, and there is no sales tax on coin transactions (even if it's several coins on one invoice) totaling $1,500 or more. Otherwise, there is sales tax and 9% sounds about right for the Long Beach area.

illini420

Here's the California Board of Equalization rule for coins...

LINK

If you're buying from a dealer at the show, you should not have to pay the sales tax on any transaction as long as you present your valid California Seller's Permit.


Have fun at Long Beach next week

WTCG

In California the rule is sales tax is applied to all sales to parties without a resale permit. Invoices under $1500 are taxable. Invoices above $1500 are not exempt. Long Beach is located in Los Angeles County and the sales tax rate in that county is 9.00%.

If you have a resale permit you do not pay sales tax on your purchases provided the items are purchased to be resold. Accessories and supplies are taxable unless they are intended to be resold.

Type2

Go and buy at LB and see how many charge you tax if they do they are keeping it and not paying it to the state..... or you pick.

illini420

<< <i>Go and buy at LB and see how many charge you tax if they do they are keeping it and not paying it to the state..... or you pick. >>



Remember than many dealers have the sales tax included in the prices they quote you and some will even have signs posted which say that.