I'm shocked that NY is 50th.
Aside from the weather, that is a big reason my wife and I moved from New York to South Carolina 20 years ago. Looking at that Tax Foundation ranking, I was surprised that South Carolina ranked so low on property taxes. Maybe it's because we're senior citizens and get all sorts of exemptions but our property taxes are only about a third of what we paid in New York.
@jakeblue said:
In regard to a specific tax on Millionaires or even Billionaires simply because they are, I have never understood why certain State Governments hate them so much for their personal and professional achievements.
Gold.
Proud follower of Christ! I love the USA! Land of the Bright and Beautiful! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
Wisconsin stopped charging sales tax on sales of precious metal bullion and coins on March 23, 2024. Governor Tony Evers signed Assembly Bill 29 (2023 Wisconsin Act 149) into law on March 21, 2024, creating a permanent sales and use tax exemption for gold, silver, platinum, palladium, or copper items containing at least 35% metal.
In general, Wisconsin has a 5% sales tax and my municipality charges another 0.5%. Coins and bullion are exempt, right? By law, they are.
Somehow eBay still charges me the 5.5% tax on the coins I buy on that platform. I have no problem paying 13% for the service that eBay provides (when I sell), but the tax (when I buy) is not right.
Just because I can, I thought I would share a purchase I made at the Central States Coin Show last week in Illinois (the dealer is from Oregon). I paid cash without taxation. [edited for clarity]
@jackpine20 said:
Wisconsin stopped charging sales tax on sales of precious metal bullion and coins on March 23, 2024. Governor Tony Evers signed Assembly Bill 29 (2023 Wisconsin Act 149) into law on March 21, 2024, creating a permanent sales and use tax exemption for gold, silver, platinum, palladium, or copper items containing at least 35% metal.
In general, Wisconsin has a 5% sales tax and my municipality charges another 0.5%. Coins and bullion are exempt, right? By law, they are.
Somehow eBay still charges me the 5.5% tax on the coins I buy on that platform. I have no problem paying 13% for the service that eBay provides (when I sell), but the tax (when I buy) is not right.
Just because I can, I thought I would share a purchase I made at the Central States Coin Show last week in Illinois (the dealer is from Oregon). I paid cash without taxation. [edited for clarity]
Are coins taxable in Illinois? The dealer being from Oregon is irrelevant.
All comments reflect the opinion of the author, even when irrefutably accurate.
@MEJ7070 said:
I don’t understand why a state would tax bullion.
I REALLY don’t understand why a state would tax collectible coins.
Because it's now common merchandise just if like you bought a broom and a dustpan. I don't like it either but convince me why a one ounce gold bar shouldn't be taxed.
It serves the same purpose as stocks, bonds, insurance policies, and plenty of other stores of value/paper assets.
If you’re not taxed on buying into a gold ETF you shouldn’t be taxed on buying a gold bar. JMHO obviously.
IIRC a death benefit from insurance is tax exempt. Even tho it's not really an investment, insurance is sort of a necessity. Anyone think that ST should be collected for every premium payment? You are taxed on stocks and bonds if you sell them at a profit. The tax thieves chose to forego collecting taxes on each purchase of a stock or bond. Buying a gold bar doesn't translate into any kind of necessity that I know of. Depending upon circumstances you could be liable for capital gains tax if you sell it.
@jackpine20 said:
Wisconsin stopped charging sales tax on sales of precious metal bullion and coins on March 23, 2024. Governor Tony Evers signed Assembly Bill 29 (2023 Wisconsin Act 149) into law on March 21, 2024, creating a permanent sales and use tax exemption for gold, silver, platinum, palladium, or copper items containing at least 35% metal.
In general, Wisconsin has a 5% sales tax and my municipality charges another 0.5%. Coins and bullion are exempt, right? By law, they are.
Somehow eBay still charges me the 5.5% tax on the coins I buy on that platform. I have no problem paying 13% for the service that eBay provides (when I sell), but the tax (when I buy) is not right.
Just because I can, I thought I would share a purchase I made at the Central States Coin Show last week in Illinois (the dealer is from Oregon). I paid cash without taxation. [edited for clarity]
Are coins taxable in Illinois? The dealer being from Oregon is irrelevant.
According to our Artificially Intelligent friends at Google, apparently not.
"Illinois generally does not charge sales tax on purchases of legal tender, currency, medallions, and gold, silver, or platinum bullion with a purity of (.980) or higher. However, this exemption excludes South African Krugerrands, bullion with lower purity, and processed items like jewelry."
@cameonut2011 said:
With many auction houses at 22+% commissions and a sales tax that high, a good percentage of U.S. regular issues become burials at least for quite some time.
With taxes and auction house fees this high you really have to calculate them in when you're bidding on anything. It dampens my enthusiasm when looking at coins to bid on.
The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
8% here in Pennsylvania. But I put it all into proportion: I'm gonna whine about an 8% sales tax when the Mint upped the Mint Sets prices by 274% in one year?
If you buy through the bay, (or the auction houses) do they collect the respective tax immediately ?
Or do the delivery services collect it and hide their fees under "other service charges" ?
If so, how long can they keep the tax? and what is their commisson?
I assume they do want to be paid for their "tax collecting " services.
H
@YQQ said:
If you buy through Feebay, (or the auction houses) do they collect the respective tax? Or do the delivery services collect it and hide the fees under "other service charges" ?
If so, how long can they keep it? and what is their commisson?
I assume they do want to be paid for their "tax collecting " services.
H
Huh?
All comments reflect the opinion of the author, even when irrefutably accurate.
@YQQ said:
If you buy through the bay, (or the auction houses) do they collect the respective tax immediately ?
Or do the delivery services collect it and hide their fees under "other service charges" ?
If so, how long can they keep the tax? and what is their commisson?
I assume they do want to be paid for their "tax collecting " services.
H
It's a problem here in WA, and they need to repeal the ruling and reconsider. ESPECIALLY for Bullion, but I think also for Coins and Currency. Even if we take a page out of CA's book and have a cutoff of 1500./2000. for coins and Bullion, that would be better, although still questionable (in my mind).
My understanding is this issue was long repealed as un-Constitutional in this State and then got "slipped" into other legislation.
People who buy Bullion, and to a large extent coins over a certain level are Saving and Investing, in some way, shape or form ... not consuming. No one should pay Sales Tax on Saving and investing.
FWIW I lived in CA for years and now reside in WA, where I grew up.
Oh, and I have been writing my representatives.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Very discouraging state to be in right now.. pun intended.The State constitution is inherently a political document and we should stay away but it's hard not be disgusted.
Don't forget on top of that the great states of SB and HA tack on their own 22% tax, not to mention some more on the seller side, it really does get impossible to dream about recouping our initial investment.
@YQQ said:
If you buy through the bay, (or the auction houses) do they collect the respective tax immediately ?
Or do the delivery services collect it and hide their fees under "other service charges" ?
If so, how long can they keep the tax? and what is their commisson?
I assume they do want to be paid for their "tax collecting " services.
H
Anyone who collects sales taxes for a taxing authority does so at their expense. It is a cost of doing business. If Walmart collects $25 in ST and I pay with a CC my state wants the whole $25 so Walmart eats the CC fee they paid when I made the purchase.
You aren't reimbursed for your time or costs ofcollecting ST.
@TimNH said:
Don't forget on top of that the great states of SB and HA tack on their own 22% tax, not to mention some more on the seller side, it really does get impossible to dream about recouping our initial investment.
Investing in coins? Isn't that like sending up the Batsignal for @jmlanzaf?
@MasonG said:
Tax Foundation
2026 State Tax Competitiveness Index
The State Tax Competitiveness Index compares each state on more than 150 variables in the five major areas of taxation (corporate taxes, individual income taxes, sales and excise taxes, property and wealth taxes, and unemployment insurance taxes and then adds the results to yield a final, overall ranking. This approach rewards states on particularly strong aspects of their tax systems (or penalizes them on particularly weak aspects), while measuring the general competitiveness of their overall tax systems. The result is a score that can be compared to other states’ scores.
IIRC a death benefit from insurance is tax exempt. Even tho it's not really an investment, insurance is sort of a necessity. Anyone think that ST should be collected for every premium payment? You are taxed on stocks and bonds if you sell them at a profit. The tax thieves chose to forego collecting taxes on each purchase of a stock or bond. Buying a gold bar doesn't translate into any kind of necessity that I know of. Depending upon circumstances you could be liable for capital gains tax if you sell it.
States charge insurance companies a tax on premiums collected. Of course the companies pass that along to you. There are other taxes charged insurers by states, or charged to consumers and collected by insurers. I imagine there are many examples of taxes and fees that are “hidden” that consumers end up paying whether they know it or not.
@TimNH said:
Don't forget on top of that the great states of SB and HA tack on their own 22% tax, not to mention some more on the seller side, it really does get impossible to dream about recouping our initial investment.
Investing in coins? Isn't that like sending up the Batsignal for @jmlanzaf?
lol. Not to mention referring to the BP. But I've all but given up fighting this nonsense. Coin collectors think their coins should be different than other collectibles. I'm sure a model train afficionado would also want an exemption and probably also thinks of their model trains as "investments".
All comments reflect the opinion of the author, even when irrefutably accurate.
I've purchased one $45 coin since the new law since passed in WA. No eBay, no GC, no HA. I buy solely out of state now. On the bright side, my checking account balance is GIGANTIC these days.
Dave
Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
Hey thanks, I did not realize how high that sales tax is, gotta blacklist WA from my EBay sales, I'm sick of paying their fees on sales taxes, especially when they are outrageously high.
According to the intertubes, Washington state sales taxes range from 6.5% to 10.4%. On a $100 sale, taxes would be $6.50 to $10.40. If you don't have an eBay store and you're paying 13.25% to eBay, that's 86 cents to $1.38 in eBay fees paid on the sales tax portion of the sale.
@Old_Collector said:
Hey thanks, I did not realize how high that sales tax is, gotta blacklist WA from my EBay sales, I'm sick of paying their fees on sales taxes, especially when they are outrageously high.
10% of 10% is 1%.
All comments reflect the opinion of the author, even when irrefutably accurate.
@MasonG said:
According to the intertubes, Washington state sales taxes range from 6.5% to 10.4%. On a $100 sale, taxes would be $6.50 to $10.40. If you don't have an eBay store and you're paying 13.25% to eBay, that's 86 cents to $1.38 in eBay fees paid on the sales tax portion of the sale.
Yeah, I'd cancel $100 sale for $1
All comments reflect the opinion of the author, even when irrefutably accurate.
If a small number of "rich" people leave, it will create a hole in their budget.
NJ and CT literally keep tabs on 5-10 people who...if they left the state....would create a hole in their respective state budgets. When David Tepper left NJ after he bought an NFL franchise, NJ suddenly lost a few hundred million in income taxes.
Good....let the greedy states bleed cash and then have to file Chapter 9 bankruptcy.
IIRC a death benefit from insurance is tax exempt. Even tho it's not really an investment, insurance is sort of a necessity. Anyone think that ST should be collected for every premium payment? You are taxed on stocks and bonds if you sell them at a profit. The tax thieves chose to forego collecting taxes on each purchase of a stock or bond. Buying a gold bar doesn't translate into any kind of necessity that I know of. Depending upon circumstances you could be liable for capital gains tax if you sell it.
States charge insurance companies a tax on premiums collected. Of course the companies pass that along to you. There are other taxes charged insurers by states, or charged to consumers and collected by insurers. I imagine there are many examples of taxes and fees that are “hidden” that consumers end up paying whether they know it or not.
Is that separate and different from a state collecting tax on the insurer's profits?
IIRC a death benefit from insurance is tax exempt. Even tho it's not really an investment, insurance is sort of a necessity. Anyone think that ST should be collected for every premium payment? You are taxed on stocks and bonds if you sell them at a profit. The tax thieves chose to forego collecting taxes on each purchase of a stock or bond. Buying a gold bar doesn't translate into any kind of necessity that I know of. Depending upon circumstances you could be liable for capital gains tax if you sell it.
States charge insurance companies a tax on premiums collected. Of course the companies pass that along to you. There are other taxes charged insurers by states, or charged to consumers and collected by insurers. I imagine there are many examples of taxes and fees that are “hidden” that consumers end up paying whether they know it or not.
Is that separate and different from a state collecting tax on the insurer's profits?
In California it iS. The premium tax is about 2% of the premium and is used by the State to pay claims for insurance companies that go bankrupt. Yes, some do go bankrupt. Tax on profits is income tax and goes to the general fund.
@MEJ7070 said:
I don’t understand why a state would tax bullion.
I REALLY don’t understand why a state would tax collectible coins.
Easy to understand. Greed and incompetence.
They can't handle budgets and are always trying to increase tax intake because of that.
For example, in WA State, they continually complain about certain financial situations/social program costs, but they can never manage them well...so they increase taxes to pay for them. A few years later, they increase taxes again because things only got worse, not better. No accountability. No responsibility.
@2windy2fish said: @Inlander I agree with you that there are a LOT of detriments to living in Washington State, would like to point out that unlike Idaho (and perhaps other states) there is no sales tax on food at the grocery store and no state income tax….Having said that i don’t know exactly what the comparison is but it needs to be said that it’s not a tax free comparison….Those taxes do add up
Point of clarification...
1) Certain foods ARE taxed. "Sin" foods and a few others.
2) State income tax? Well, debatable. There is a capital gains now, when there wasn't, and they want to lower the threshold. And, there is an incoming "millionaire's tax", that is a household tax on the amount, and one in which the legislature REFUSED to write into the bill an actual floor....so, they can lower it at any time after it starts.
Also have one of the highest: gas taxes in the nation AND sales tax AND property taxes
@ernie11 said:
8% here in Pennsylvania. But I put it all into proportion: I'm gonna whine about an 8% sales tax when the Mint upped the Mint Sets prices by 274% in one year?
There is no sales tax on precious metals or coins in Pa.
For taxable items. The 8% tax rate is only in Philadelphia. Alleghany is 7% and the rest of the state, including where I live is 6%. There are exemptions. like groceries, coins, precious metals, clothing, textbooks, etc.
States charge insurance companies a tax on premiums collected. Of course the companies pass that along to you. There are other taxes charged insurers by states, or charged to consumers and collected by insurers. I imagine there are many examples of taxes and fees that are “hidden” that consumers end up paying whether they know it or not.
Is that separate and different from a state collecting tax on the insurer's profits?
@TimNH said:
Don't forget on top of that the great states of SB and HA tack on their own 22% tax, not to mention some more on the seller side, it really does get impossible to dream about recouping our initial investment.
Investing in coins? Isn't that like sending up the Batsignal for @jmlanzaf?
lol. Not to mention referring to the BP. But I've all but given up fighting this nonsense. Coin collectors think their coins should be different than other collectibles. I'm sure a model train afficionado would also want an exemption and probably also thinks of their model trains as "investments".
@2windy2fish said: @liefgold Great collections, ebay, heritage and every other major seller will charge you sales tax if it is required by the state you live in…period!
30 years of sales tax consulting experience speaking here...
Just because someone is supposed to charge tax doesn't mean they will. I live in TX and have purchased taxable precious metals-related items from "major sellers" that were not taxed.
It works the other way too as I've also seen tax charged on PM-related items that were exempt.
@MEJ7070 said:
If you’re not taxed on buying into a gold ETF you shouldn’t be taxed on buying a gold bar. JMHO obviously.
Someone can confirm this, but it is my understanding that, in Britain, you can buy and sell British gold coins tax free (sovereigns, Britannias). But you pay tax at time of purchase or sale, not sure which, on non-British coins. Maybe this could be a middle road for WA: don't tax USA coins. Not the optimal solution, of course, but an improvement.
Comments
I'm shocked that NY is 50th.
Aside from the weather, that is a big reason my wife and I moved from New York to South Carolina 20 years ago. Looking at that Tax Foundation ranking, I was surprised that South Carolina ranked so low on property taxes. Maybe it's because we're senior citizens and get all sorts of exemptions but our property taxes are only about a third of what we paid in New York.
Member ANA, SPMC, SCNA, FUN, CONECA
Gold.
Proud follower of Christ! I love the USA! Land of the Bright and Beautiful! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
Ask the dealer if they charge non state residents the sales tax on coins, I found that works at times (or at least check into it)
Wisconsin stopped charging sales tax on sales of precious metal bullion and coins on March 23, 2024. Governor Tony Evers signed Assembly Bill 29 (2023 Wisconsin Act 149) into law on March 21, 2024, creating a permanent sales and use tax exemption for gold, silver, platinum, palladium, or copper items containing at least 35% metal.
In general, Wisconsin has a 5% sales tax and my municipality charges another 0.5%. Coins and bullion are exempt, right? By law, they are.
Somehow eBay still charges me the 5.5% tax on the coins I buy on that platform. I have no problem paying 13% for the service that eBay provides (when I sell), but the tax (when I buy) is not right.
Just because I can, I thought I would share a purchase I made at the Central States Coin Show last week in Illinois (the dealer is from Oregon). I paid cash without taxation. [edited for clarity]
Matt Snebold
Are coins taxable in Illinois? The dealer being from Oregon is irrelevant.
All comments reflect the opinion of the author, even when irrefutably accurate.
States charge the tax; dealers and others collect it.
IIRC a death benefit from insurance is tax exempt. Even tho it's not really an investment, insurance is sort of a necessity. Anyone think that ST should be collected for every premium payment? You are taxed on stocks and bonds if you sell them at a profit. The tax thieves chose to forego collecting taxes on each purchase of a stock or bond. Buying a gold bar doesn't translate into any kind of necessity that I know of. Depending upon circumstances you could be liable for capital gains tax if you sell it.
According to our Artificially Intelligent friends at Google, apparently not.
"Illinois generally does not charge sales tax on purchases of legal tender, currency, medallions, and gold, silver, or platinum bullion with a purity of (.980) or higher. However, this exemption excludes South African Krugerrands, bullion with lower purity, and processed items like jewelry."
Matt Snebold
With taxes and auction house fees this high you really have to calculate them in when you're bidding on anything. It dampens my enthusiasm when looking at coins to bid on.
8% here in Pennsylvania. But I put it all into proportion: I'm gonna whine about an 8% sales tax when the Mint upped the Mint Sets prices by 274% in one year?
If you buy through the bay, (or the auction houses) do they collect the respective tax immediately ?
Or do the delivery services collect it and hide their fees under "other service charges" ?
If so, how long can they keep the tax? and what is their commisson?
I assume they do want to be paid for their "tax collecting " services.
H
Huh?
All comments reflect the opinion of the author, even when irrefutably accurate.
Several states seem to be competing for that position.
One for you, nineteen for me.....
Yes
This may be true. Tax might be built into the price but I’m not charged an extra 8.75% tax on orders less than $2000.
Remember that if you buy from out of state and are not charged a sales tax, you probably still owe your home state "use tax" on your purchase.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
It's a problem here in WA, and they need to repeal the ruling and reconsider. ESPECIALLY for Bullion, but I think also for Coins and Currency. Even if we take a page out of CA's book and have a cutoff of 1500./2000. for coins and Bullion, that would be better, although still questionable (in my mind).
My understanding is this issue was long repealed as un-Constitutional in this State and then got "slipped" into other legislation.
People who buy Bullion, and to a large extent coins over a certain level are Saving and Investing, in some way, shape or form ... not consuming. No one should pay Sales Tax on Saving and investing.
FWIW I lived in CA for years and now reside in WA, where I grew up.
Oh, and I have been writing my representatives.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
Very discouraging state to be in right now.. pun intended.The State constitution is inherently a political document and we should stay away but it's hard not be disgusted.
Don't forget on top of that the great states of SB and HA tack on their own 22% tax, not to mention some more on the seller side, it really does get impossible to dream about recouping our initial investment.
Anyone who collects sales taxes for a taxing authority does so at their expense. It is a cost of doing business. If Walmart collects $25 in ST and I pay with a CC my state wants the whole $25 so Walmart eats the CC fee they paid when I made the purchase.
You aren't reimbursed for your time or costs ofcollecting ST.
Same here
I now live in an Evergreen coin show desert.
"Inspiration exists, but it has to find you working" Pablo Picasso
Investing in coins? Isn't that like sending up the Batsignal for @jmlanzaf?
That was a serious consideration when I switched from collecting stamps to collecting coins.
Sales tax on stamps, no sales tax in my state on coins.
not to mention some more on the seller side,
Huh? Whenever I consign to Heritage, I always get more than 100% of hammer.
Member ANA, SPMC, SCNA, FUN, CONECA
Washington is in the top 90% when it comes to state tax competitiveness!!!!!!!!!!!!!!!!!!
States charge insurance companies a tax on premiums collected. Of course the companies pass that along to you. There are other taxes charged insurers by states, or charged to consumers and collected by insurers. I imagine there are many examples of taxes and fees that are “hidden” that consumers end up paying whether they know it or not.
Such a shame
lol. Not to mention referring to the BP. But I've all but given up fighting this nonsense. Coin collectors think their coins should be different than other collectibles. I'm sure a model train afficionado would also want an exemption and probably also thinks of their model trains as "investments".
All comments reflect the opinion of the author, even when irrefutably accurate.
yeah. People don't understand the BP...and there's no explaining it to them.
All comments reflect the opinion of the author, even when irrefutably accurate.
I've purchased one $45 coin since the new law since passed in WA. No eBay, no GC, no HA. I buy solely out of state now. On the bright side, my checking account balance is GIGANTIC these days.
Dave
Hey thanks, I did not realize how high that sales tax is, gotta blacklist WA from my EBay sales, I'm sick of paying their fees on sales taxes, especially when they are outrageously high.
According to the intertubes, Washington state sales taxes range from 6.5% to 10.4%. On a $100 sale, taxes would be $6.50 to $10.40. If you don't have an eBay store and you're paying 13.25% to eBay, that's 86 cents to $1.38 in eBay fees paid on the sales tax portion of the sale.
10% of 10% is 1%.
All comments reflect the opinion of the author, even when irrefutably accurate.
Yeah, I'd cancel $100 sale for $1
All comments reflect the opinion of the author, even when irrefutably accurate.
If a small number of "rich" people leave, it will create a hole in their budget.
NJ and CT literally keep tabs on 5-10 people who...if they left the state....would create a hole in their respective state budgets. When David Tepper left NJ after he bought an NFL franchise, NJ suddenly lost a few hundred million in income taxes.
Good....let the greedy states bleed cash and then have to file Chapter 9 bankruptcy.
Is that separate and different from a state collecting tax on the insurer's profits?
In California it iS. The premium tax is about 2% of the premium and is used by the State to pay claims for insurance companies that go bankrupt. Yes, some do go bankrupt. Tax on profits is income tax and goes to the general fund.
GC's Terms and Conditions say "Sales Tax. California residents will be charged sales tax."
I don't think other states are charged.
@liefgold Great collections, ebay, heritage and every other major seller will charge you sales tax if it is required by the state you live in…period!
Easy to understand. Greed and incompetence.
They can't handle budgets and are always trying to increase tax intake because of that.
For example, in WA State, they continually complain about certain financial situations/social program costs, but they can never manage them well...so they increase taxes to pay for them. A few years later, they increase taxes again because things only got worse, not better. No accountability. No responsibility.
That's why.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Point of clarification...
1) Certain foods ARE taxed. "Sin" foods and a few others.
2) State income tax? Well, debatable. There is a capital gains now, when there wasn't, and they want to lower the threshold. And, there is an incoming "millionaire's tax", that is a household tax on the amount, and one in which the legislature REFUSED to write into the bill an actual floor....so, they can lower it at any time after it starts.
Also have one of the highest: gas taxes in the nation AND sales tax AND property taxes
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I worked retail, years ago, in WA.
We were required to get ID to one of the few non-tax states if anyone requested not to be taxed with our sales tax.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I get that, nice 😎
There is no sales tax on precious metals or coins in Pa.
For taxable items. The 8% tax rate is only in Philadelphia. Alleghany is 7% and the rest of the state, including where I live is 6%. There are exemptions. like groceries, coins, precious metals, clothing, textbooks, etc.
Yes.
Lionel Trains are not an investment?
30 years of sales tax consulting experience speaking here...
Just because someone is supposed to charge tax doesn't mean they will. I live in TX and have purchased taxable precious metals-related items from "major sellers" that were not taxed.
It works the other way too as I've also seen tax charged on PM-related items that were exempt.
Someone can confirm this, but it is my understanding that, in Britain, you can buy and sell British gold coins tax free (sovereigns, Britannias). But you pay tax at time of purchase or sale, not sure which, on non-British coins. Maybe this could be a middle road for WA: don't tax USA coins. Not the optimal solution, of course, but an improvement.
Welllllllll, not really. Depending on the state, it's still supposed to be paid.