Options
Have you ever gladly overpaid for a coin to ....
SCDHunter
Posts: 686 ✭✭✭
avoid paying a state sales tax?
I've found myself in situations where my auction totals are below the threshold and will gladly purchase something I don't really want to kick it over the threshold. I feel better knowing that my money is supporting the company rather than the state.
3
Comments
No, and I have no idea of what state taxes you are referring to.
Nope
Some states charge sales tax on coins. For example, California charges tax on coin purchases below $1,500. So there are times when it’s beneficial to get your total to $1,500 in order to avoid the 7.25% in taxes. If your total is $1,400, it would be better to purchase a $100 coin and not pay tax rather than paying $105 in tax on your $1,400.
Certainly yes. [edit: on the purchase of the extra coin - not gladly overpaying] The tax savings can 'pay' for over half the extra coin's value in some cases.
No.... I do not buy coins if I have to pay tax.... cash can solve that issue where applicable....Cheers, RickO
Same here.
Same here.
Not yet, but I've thought about it when it's not available for a price below the tax cutoff. Taxes make people do interesting things.
nope, I just tell the seller my/their price includes sales tax.
I love overpaying for amazingly toned lincolns but not for taxes!
Haven't done this, yet.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
nope
Er...not legally.
All comments reflect the opinion of the author, even when irrefutably accurate.
Coin collectors are all bad Mofos who live life on the edge. Rebels and rock stars each and everyone of them
11.5$ Southern Dollars, The little “Big Easy” set
No sales tax on coins or bullion in GA, so no.
I have overpaid on occasion to fill a hole however.
it's crackers to slip a rozzer the dropsy in snide
I'm in FL so no, I have not done this. No need. If I lived in another state where the situation was different, I might look at legal ways to avoid dishing out more money to the tax man.
Not really looking for much these days but if I were, it might be a toner.