I need to know which states charge sales tax on coins

Aethelred · June 6, 2006 11:08AM

If anyone can point me in the direction of a list of state tax regulations on coins I'd really appreciate it.

Casey · June 6, 2006 1:10PM

I don't have a list, but do a search here and you'll find an informal listing from members on some states. Legislation was recently passed in Iowa exempting the sale of coins and bullion from sales tax.

1960NYGiants · June 6, 2006 1:14PM

Connecticut is exempt except for bullion. I think there is a min buy for tax to kick in. (I'm sure I'll be corrected on this.)

CarlWohlforth · June 6, 2006 1:20PM

CA charges sales tax on coin sales of less than $1,000. The amount depends on county. It would be hard to have an up to date list of the exact percent sales tax by county for the whole country. For example there is a vote today that might increase the Santa Clara county tax by an additional %1/2.

relayer · June 6, 2006 1:39PM

check here?

Bochiman · June 6, 2006 2:04PM

We don't in Washington State

Aethelred · June 6, 2006 2:11PM

Thank you all for the help!

airplanenut · June 6, 2006 4:03PM

NJ charges for all

Julian · June 7, 2006 12:03AM

MD has a 5% sales tax on a numismatic sales less than $1000. All numismatic sales in excess of $1000. are tax exempt.

jayboxx · June 7, 2006 12:18AM

I think it is silly to only charge sales tax under a certain amount. What is the logic there?

MrHalfDime · June 7, 2006 12:26AM

The People's Republic of Maine, the highest taxed state in the nation, has never seen a tax it doesn't love. Maine taxes coin and bullion sales (and everything else) at 5%. If you go to a coin show in Maine, they will tax your hotel room and restaurant meals at 8%, and if you buy a bottle of liquor, the tax is a mere 75%. Sad but true.

xphobe · June 7, 2006 12:51AM

In Texas, if the total for all numismatic items in the sale exceeds $1000, you are exempt from 6.25% state sales tax plus up to 2% additional depending on locale.

Another quirk is even for purchases < 1000, the face value of a coin can be deducted.

ttown · June 7, 2006 1:35AM

Never paid a dime in tax in Ok......Cash is king baby

CarlWohlforth · June 7, 2006 2:00AM

<<I think it is silly to only charge sales tax under a certain amount. What is the logic there?>>

I understand they consider sales of over $1,000 to be investments while sales under that amount are not. Investments, like stock, are not subject to sales tax in CA.

mgoodm3 · June 7, 2006 2:18AM

No tax in OR.

TheRaven · June 7, 2006 2:24AM

Ohio has the typical sales tax that is on everything else.....

flaminio · June 7, 2006 2:28AM

<< <i>CA charges sales tax on coin sales of less than $1,000. >>

Yep, and twice now I've won Heritage auctions for $977.50. I tried emailing them and asking them to raise my cost -- win for both of us, right, I pay less, they get more -- but no dice. So, with tax that comes to $1058

.

ewitte · June 7, 2006 2:53AM

I wouldn't mind helping you ... I'll gladly raise your $5 purchase to $1000 to avoid taxes

AU58WALKERS · June 7, 2006 3:18AM

Oklahoma is supposed to...but no one does. Like the man said "cash is king"

Aegis3 · June 7, 2006 5:31AM

<< <i>I think it is silly to only charge sales tax under a certain amount. What is the logic there? >>

Who can afford lobbyists to change to tax rules... those who can regular afford $1000+ coins or those who cannot?

I need to know which states charge sales tax on coins

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