They're up to it again in Ohio!!
keets
Posts: 25,351 ✭✭✭✭✭
There is now an effort in the Ohio Legislature to pass a Bill which would include re-instating a "tax on investments" such as Numismatic Coins and Bullion. This after an effort a few years ago which repealed a similar measure that resulted from the Tom Noe investment scandal. That was so unsuccessful and harmed dealers, drove away major shows and actually slowed/hurt "investment" that it was seen for what it is --- BAD.
I'll tell you this much, there are plenty of times when I have to watch how much I spend, but apparently that isn't the case with Politicians. They make excuses for why they need money and then have backroom meetings about where/who/how they can go about getting it.
Please, leave our Hobby alone.
Al H.
11
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I’m not sure it will do much, but call your local representative and tell them to vote against this. The chances are a bit higher that they will listen if it’s someone in their district.
Also, a line-item veto may be possible if they still want the rest of the bill to go through.
we can blame South Dakota for starting this big mess.
believe it or not, I live in Ohio House District 61 and our State Representative is a customer!!!
Good luck with this Al.... when it comes to taxes, politicians are worse than drug addicts....Cheers, RickO
and its not getting any better
we just got a call from the dealer mentioned in the Toledo Blade article. unless my boss misunderstood him, the Law passed and will take effect on January 1st. so much for Central States or any ANA show ever coming here.
Yep... Your politicians are mainlining..... do not administer narcan, there is no hope...Cheers, RickO
The Texas legislature meets every other year. Half the foolishness and mischief.
Well, I love my one of my Senators from California.
Government is not evil.
Taxes are not evil.
I’m not sure it will do much, but call your local representative and tell them to vote against this. The chances are a bit higher that they will listen if it’s someone in their district.
I was going to suggest that you have your customers call...………...but if the measure already passed...……….hmmmmm
I knew it would happen.
Some states allow a sales tax exemption if an entity does business in a taxing jurisdiction for a limited number of days in a calendar year. California used to do this (don't know if they still do), so Coin Shows were not affected. ANA was in CA in 2009 and in 2016, so I imagine this exemption was in place during these shows.
"Seu cabra da peste,
"Sou Mangueira......."
I hope you are not talking about Pelosi!
Senator Pelosi?
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Were you joking? Pelosi isn't a Senator.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
That's a misuse of the term Senator.
Exactly what I would expect from you, the uninformed
She is Speaker of the House. He is probably professing his love for Kamala Harris
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I know she is a Rep.
Harris is just as bad or worse!!
Good grief. Please stop this nonsense.
You have zero self control. Can’t help yourself can you? So predictable. Nobody here cares about your political slant.
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Pelosi isn't a Senator. She is a Congresswoman.
Yes the moment you know smoeone is taking out of their buttocks
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Well, the country is running a $22T deficit, with a severe shortage of revenue coming in. The states aren't in much better shape. I would imagine that, in the coming years, we'll see more, creative, means of trying to garner some desperately-need revenue.
I miss Roadrunner at times, as he always had a way of putting financial matters in perspective.
Watcha say we keep the politics off this numismatic board. It has no place here.
Funny you should mention buttocks......that's where Pelosi lives!!
What are you like eleven years old?
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
This portends very badly for the hobby IMO. Sales taxes on bullion will drive it underground or out of state. If collectibles are ever taxed in my state I am done forever. Well, maybe I would put together a penny board with VG grades and no key dates.
IBTC
Ha ha ha
Heather must be on the links again. Good for her.
I was under the impression that the increase in economic activity would pay for the tax cut. I've been lied to once again.
I live in Ohio, so this is quite unfortunate to see. At least now I won’t have to feel quite as upset when certain auction houses charge me sales tax, because they will be doing it legitimately after the sales tax goes back into effect.
And RIP this thread, 7/19/19-7/19/19 (probably).
They have. Not so sure it's that creative Legalized sports betting is sweeping the nation.
I just looked up Columbus Ohio's tax rate and found it to be 7.5%
Yipes!
That' over $100 added to the price of a 1 oz gold bullion coin.
My Saint Set
That' over $100 added to the price of a 1 oz gold bullion coin.
that's the twist, it won't necessarily mean the buyer will pay more, it will mean the buyer pays more and the seller makes less. in the end, what it really means is that business will go somewhere else, either to a neighboring state or to the internet, but they are already taxing that. the dealer quoted in the Toledo Blade makes a good point, that they are taxing this as an "investment" while ignoring all the other real investment such as Stocks and Bonds.
From the article, it seems to imply that the goal (at least in theory) of repealing the exemption was to help the regular folks (most who don't see any benefit from coins/bullion, but would benefit from even a small tax break):
"The repeal and rollback of this exemption and other tax breaks would underwrite a net tax cut of about $100 million. It would eliminate Ohio’s lowest tax bracket so that those earning less than $22,500 would pay no income taxes.
Those in the next-highest bracket, earning up to $88,000, would see an income tax rate cut of 4.7 percent."
Gulags are not so bad either.
Hopefully you are near the Commonwealth, no sales tax on coin and bullion if you just come across the border. We welcome all kinds up in here, everything and everyone, well except for orange racist russians that look like orangutans. lol Peace!!!
[https://youtube.com/watch?v=pvAYGz6Iwmc](https://youtube.com/watch?v=pvAYGz6Iwmc "https://youtube.com/watch?v=pvAYGz6Iwmc")
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Except for all the coins with presidents on them.
Taxes aren't evil.
They're just....what's the word I'm looking for..??....taxing.
Here in NY, before we had a 1000.00 or greater exemption, I refused to even sell gold bullion. There was no way I could let my county make 8 3/4 % on an ounce of gold when I couldn't. (You're lucky to make 3 %)
It was bad enough with the exemption, as you had to get the customers name and address. Who wants to give out that ?
taxes on coins have already altered my buying habits. It seems as if every time I turn around I am being taxed for something else. I've had buyers ask to back out of a sale because of the tax. Tax is not the answer - stop the out of control spending!
Mark...you introduced the word to the discussion.
"customers name and address" ... for gold buyers ... talk about a bad marketing match.
Corey Booker will require gold buyers to be licensed.
"common sense" will be the reason. Always is.
Well, at least you did not chant, "send her back", good on you
This thread has about 24 hours to live
My Saint Set