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Pennsylvania is proposing removing the sales tax examption on bullion

CaptHenwayCaptHenway Posts: 32,150 ✭✭✭✭✭
in Precious Metals
The Governor's proposed new budget would raise the sales tax and eliminate many exempted items, including bullion items and investment coins. ICTA is working on it.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Oops. Misread it.
    theknowitalltroll;
  • CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭
    Is there a petition we can sign or who should we contact to get this taken out of the budget? Mike
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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    West Philly - they need the taxes

    I would expect more of these bills popping up in the years to come. After all, why give bullion and/or coin dealers any breaks? Minnesota, Pennsylvania....who's next?
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>West Philly - they need the taxes

    I would expect more of these bills popping up in the years to come. After all, why give bullion and/or coin dealers any breaks? Minnesota, Pennsylvania....who's next? >>



    Some Minnesota dealers hold their shows in Iowa.
    theknowitalltroll;
  • MsMorrisineMsMorrisine Posts: 33,088 ✭✭✭✭✭
    Investments are already taxed

    A sales tax would be like a sales tax on a mutual fund transaction

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i> ICTA is working on it. >>



    image
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,365 ✭✭✭✭✭
    Presently in Pennsylvania all coin and bullion purchases are exempt from sales tax.

    About 5 years ago a similar imposition of sales tax was floated by the Ed Rendell (Governor of Philadelphia) administration. Coin collectors and bullion stackers flooded the phone lines at the Governor's mansion and the proposal was shelved.

    FWIW, the present Governor's party is in the minority in the Legislature. Failed proposals like imposing tolls on I-80 are likely to be proposed again and probably will not pass.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
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  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭


    << <i>

    << <i> ICTA is working on it. >>



    image >>



    Why is this funny ? I take a bit of umbrage because I spent hours in a town hall meeting trying to ensure that policy makers understood the "grip" it was putting on our state vs. other surrounding states. There were literally hundreds of fellow citizens in a very organized discussion, prior to our governor signing the law into effect that "repealed" taxes. And if others knew the WHOLE story, they might take a proactive lead in helping to reshape their own State.

    I almost did not renew my membership this year, but…. like a coin geek, some things are inevitable. And looking after J6P is one of them.

    Godspeed, PA citizens. I am FOR your pocketbooks, not the state coffer. image No offense to governors or any who disagree with my position.

  • CaptHenwayCaptHenway Posts: 32,150 ✭✭✭✭✭


    << <i>

    << <i> ICTA is working on it. >>



    image >>



    Are YOU working on it?
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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