What do property taxes have to do with the sales tax on coins? This thread headed south fast.
My state has always charged sales tax. I figure it into what I will spend on the hobby.
I will say any shop that closed prior to the law taking affect is just using it as a excuse to close. That shop has other issues and they are using that for publicity.
@davewesen said:
The news said those specializing in precious metals are thinking whether to close up or move to Idaho or Oregon. They feel an additional 10% tax will severely limit their sales. It is probably too early to tell.
Seems reasonable that dealers in precious metals would be impacted the most. Margins thin, competitive prices well-documented, common and consistent product.
@Cuprinkor said:
TPring: what's wrong with Portland?
.....
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
I'm on the east side of Washington. It will be interesting to see how this new tax law impacts the dealers here in Spokanistan as most of them focus on precious metals.
@Inlander said:
I'm on the east side of Washington. It will be interesting to see how this new tax law impacts the dealers here in Spokanistan as most of them focus on precious metals.
As a teenager I remember ticket scalpers selling books of matches for about $200 and throwing in a pair of tickets for the Rolling Stones for free to get around the law prohibiting ticket scalping.
@TPring said:
And PNNA dropped the show down to just two days this year, not sure how much that will affect buyers and sellers.
I wonder if having a show on tribal land would negate the sales tax.
In NY, that pretty much only works if you never leave tribal land.
Speaking of tribal land why can't the reservations sell precious metals?
Cigarettes, fireworks and silver and gold all in one. Hmm.
As we know, the restaurants around the Orlando Convention Center next Thursday and Friday evenings will be jam packed. But I heard that in Florida, Native Americans can just walk to the front of the line and get right in. That’s because they have reservations 😂.
Steve
A day without fine wine and working on your coin collection is like a day without sunshine!!!
@Lakesammman said:
It's a shame. Tukwilla or Kent are my limits as the shows are relatively small and purchases are rare. Pdx is definitely too far for me.
FUN and ANA shows are still in the cards for me.
Will this be a killa for Tukwilla?
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
@davewesen said:
The news said those specializing in precious metals are thinking whether to close up or move to Idaho or Oregon. They feel an additional 10% tax will severely limit their sales. It is probably too early to tell.
Seems reasonable that dealers in precious metals would be impacted the most. Margins thin, competitive prices well-documented, common and consistent product.
Potentially worse for bullion dealers, is the B&O tax that they will have to start paying (that is also new this year). That's 0.471% state-wide with some cities tacking on more (Seattle, it's up to 0.342% more). That might not seem like much, but you have to remember that it's off gross sales with basically no deductions. So even if you accept that all sellers should be charging residents sales taxes, only businesses in WA have that added hit on top, putting them at a pretty bad disadvantage given the margin on bullion.
Comments
What do property taxes have to do with the sales tax on coins? This thread headed south fast.
My state has always charged sales tax. I figure it into what I will spend on the hobby.
I will say any shop that closed prior to the law taking affect is just using it as a excuse to close. That shop has other issues and they are using that for publicity.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Seems reasonable that dealers in precious metals would be impacted the most. Margins thin, competitive prices well-documented, common and consistent product.
.....
God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.
And clouds....especially the grey ones.
Throw a coin enough times, and suppose one day it lands on its edge.
Don’t worry, Seattle’s new mayor will ensure that small business owners finally get what’s coming to them.
Quebec is bleu
All comments reflect the opinion of the author, even when irrefutably accurate.
In NY, that pretty much only works if you never leave tribal land.
All comments reflect the opinion of the author, even when irrefutably accurate.
Speaking of tribal land why can't the reservations sell precious metals?
Cigarettes, fireworks and silver and gold all in one. Hmm.
I'm on the east side of Washington. It will be interesting to see how this new tax law impacts the dealers here in Spokanistan as most of them focus on precious metals.
CAC | PCGS | NGC
PO Boxes in Post Falls gonna sell out fast
As a teenager I remember ticket scalpers selling books of matches for about $200 and throwing in a pair of tickets for the Rolling Stones for free to get around the law prohibiting ticket scalping.
It's an idea...but you didn't hear that from me.
As we know, the restaurants around the Orlando Convention Center next Thursday and Friday evenings will be jam packed. But I heard that in Florida, Native Americans can just walk to the front of the line and get right in. That’s because they have reservations 😂.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
and, ironically, alcohol.
It's green due to all the rain.😀
Will this be a killa for Tukwilla?
Potentially worse for bullion dealers, is the B&O tax that they will have to start paying (that is also new this year). That's 0.471% state-wide with some cities tacking on more (Seattle, it's up to 0.342% more). That might not seem like much, but you have to remember that it's off gross sales with basically no deductions. So even if you accept that all sellers should be charging residents sales taxes, only businesses in WA have that added hit on top, putting them at a pretty bad disadvantage given the margin on bullion.