Baltimore Coin Show Alert! HB 206 - The Repeal of the Sales and Use Tax Exemption for Coins and Bul

CoinRaritiesOnline · February 22, 2011 1:34AM

Hi All:

I just received this email from the Whitman folks. They run the fantastic Baltimore show -- shows which rank among the best shows in the country for both collectors & dealers.

I don't live in Maryland, but I do care deeply about these shows.

Here is what they are asking people who love these shows as much as I do to do over the next day or so:

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We have retained The Rasmussen Group to advocate our best interests regarding HB 206 - Sales and Use Tax Exemption for Precious Metal Bullion and Coins – Repeal under consideration by the Maryland General Assembly. This committee is scheduled to have a hearing at 1 pm, Wednesday, February 23. Here is how you can help us get this legislation defeated:

We encourage your efforts to generate as many contacts as possible to the Legislative Membership of the House Ways & Means Committee expressing opposition to HB 206.

Legislative contacts can be made either by email or telephone or both, whichever is most convenient. Click here for a chart that contains all of the appropriate contact information, including the Legislators’ email addresses, as well as their legislative office phones.

Should you contact the Legislator by phone, expect to speak to a staff member only. Telephone calls should be brief and should contain a statement in opposition to HB 206. Emails should be brief, as well, and no longer than a paragraph in length. Identify yourself as a Maryland dealer, a dealer in general, a participating coin collector from Maryland, or a visiting participating coin collector from another state. Express opposition to HB 206 - Sales and Use Tax Exemption for Precious Metal Bullion and Coins – Repeal.

Several suggested talking points are as follows:

The sales tax exemption has been critically important to the success of the three major shows conducted at the Convention Center in Baltimore each year over the past 20 years.
The repeal of the sales tax exemption would result in significant loss of economic benefit to both Maryland and Baltimore, since the three shows would likely be moved to a friendlier state with no sales tax.
Not only would Maryland lose the sales tax on sales under $1,000, but the City of Baltimore would also lose significant revenue from the loss of the hotel tax on thousands of hotel-room nights per year as well as the retail and restaurant spending in Baltimore generated by the show participants.
Respectfully request that the Ways & Means Committee vote an Unfavorable Report on HB 206.

We cannot stress enough the urgency of making these contacts within the next 24 hours. Please contact me should you have any questions. Thank you in advance for your help.

Best regards,

David Crenshaw
General Manager
---

Here is the link to those House Committee members:

Link to Maryland House Committee Members with Email addresses

It is easy to do, and will only take a few minutes. if you don't have time to email all of the members, just pick one.

llafoe · February 22, 2011 1:36AM

I don't live in Maryland... I would feel odd interfering in their state business. Now if this were a federal or Indiana issue, I'd feel compelled to act.

CoinRaritiesOnline · February 22, 2011 1:40AM

I have no qualms about it. We go there 3x/year for several days each time & spend thousands of (heavily taxed by MD) dollars every year.

If you bid or consign to those auctions, or benefit from the new purchases of dealers & collectors who attend, you are affected by this.

llafoe · February 22, 2011 1:49AM

It's just my opinion...

but I visit every state at least once every two years. I couldn't, wouldn't, shouldn't get involved in their politics even though I'm sure one, if not several of their newly enacted laws cost me money. If I spent at least 3 months or owned property in that state, I would probably act, but I don't. While in the military, when I lived in a state, I was still a legal resident of Indiana. That state's business was the state's populations business, not mine. Then again, I can't stay married, so my opinions may be flawed!

CaptHenway · February 22, 2011 1:54AM

I'm retired, so I have no pony in this race, but IMHO good shows are good for the hobby, and Baltimore shows have usually been good shows.
TD

RichieURich · February 22, 2011 2:15AM

I just sent an e-mail to all the members of Maryland's House Ways & Means Committee (opposing the repeal, of course.) Thanks for the reminder, CRO!

Julian · February 22, 2011 2:19AM

As a MD dealer, I would respectfully ask for any assistance that you can give us. Baltimore is a staple on the numismatic bourse scene.

It has value to all buyers and sellers of numismatic material. If you are not fortunate enough to attend, then perhaps your representatives do attend the events there.

It is actually a benefit to having as many numismatic sales exempt from sales tax in all the states.

MrObvious · February 22, 2011 2:41AM

I live in Pennsylvania and really like to go to the Baltimore show at least twice per year. I just emailed all of the committee members. For other's convenience here is the email list that you can just copy and paste (I used a MACBook so the separators are commas, you might have to go through and put in semicolons):

kathy.afzali@house.state.md.us, kumar.barve@house.state.md.us, joseph.boteler@house.state.md.us, talmadge.branch@house.state.md.us, jon.cardin@house.state.md.us, mark.fisher@house.state.md.us, bill.frick@house.state.md.us, ron.george@house.state.md.us, glen.glass@house.state.md.us, sheila.hixson@house.state.md.us, carolyn.howard@house.state.md.us, jolene.ivey@house.state.md.us, anne.kaiser@house.state.md.us, eric.luedtke@house.state.md.us, aruna.miller@house.state.md. us, leroy.myers@house.state.md.us, samuel.rosenberg@house.state.md.us, justin.ross@house.state.md.us, andrew.serafini@house.state.md.us, melvin.stukes@house.state.md.us, michael.summers@house.state.md.us, frank.turner@house.state.md.us, jay.walker@house.state.md.us

Here is the text of my message - I'm sure it could be improved upon but feel free to borrow it if you are pressed for time:

I am a serious coin collector / investor from Pennsylvania. As such, I travel to Baltimore 2 to 3 times each year to attend shows - spending an average of 7 nights per year in Maryland for this purpose and frequently spending substantial sums of money or selling substantial numbers of coins or both. The repeal of the sales tax exemption for precious metal bullion and coins would cause me to reduce or eliminate these trips and conduct my business elsewhere.

Please defeat HB 206 and retain the Sales and Use Tax Exemption for Precious Metal Bullion and Coins.

Respectfully,

PTVETTER · February 22, 2011 2:48AM

I run the PAN show, which is held 2 times a year, and here in PA there is NO sales tax on coin or bullionin PA.

This is a big help. People from WV, OH, and MD can save alot by buying at the show.

This is a hugh benefit to both dealers and collectors.

MD lawmakes should look closly and see the benefits to changing this law.

timcoin · February 22, 2011 2:54AM

Why do democrats hate numismatics!?!

CoinRaritiesOnline · February 22, 2011 3:02AM

Great idea, Mr. Obvious.

I changed all of the emails in your list above from commas to semicolons to make it easy for PC users.

Here is the list so people can cut & paste it:

hy.afzali@house.state.md.us; kumar.barve@house.state.md.us; joseph.boteler@house.state.md.us; talmadge.branch@house.state.md.us; jon.cardin@house.state.md.us; mark.fisher@house.state.md.us; ron.george@house.state.md.us; glen.glass@house.state.md.us; sheila.hixson@house.state.md.us; carolyn.howard@house.state.md.us; jolene.ivey@house.state.md.us; anne.kaiser@house.state.md.us; eric.luedtke@house.state.md.us; aruna.miller@house.state.md.us; leroy.myers@house.state.md.us; samuel.rosenberg@house.state.md.us; justin.ross@house.state.md.us; andrew.serafini@house.state.md.us; melvin.stukes@house.state.md.us; michael.summers@house.state.md.us; frank.turner@house.state.md.us; jay.walker@house.state.md.us; bill.frick@house.state.md.us

Here is the text of my email, in case it helps others write theirs:

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Dear Honorable House Committee member:

I am a coin dealer who, along with others at our company, currently attend 3 to 4 coin conventions each year in Baltimore. I respectfully request that the Ways & Means Committee vote an Unfavorable Report on HB 206.

The repeal of the sales tax exemption would result in significant loss of economic benefit to both Maryland and Baltimore, since the three shows would likely be moved to a friendlier state with no sales tax. Not only would Maryland lose the sales tax on sales under $1,000, but the City of Baltimore would also lose significant revenue from the loss of the hotel tax on thousands of hotel-room nights per year as well as the retail and restaurant spending in Baltimore generated by the show participants.

Sincerely,
-----------

jdillane · February 22, 2011 3:16AM

This is a toughy and likely the tip of the iceberg. As states confront their financial reality, they will pull out the stops to garner $$$. Gonna need some intense lobbying.

PerryHall · February 22, 2011 3:45AM

<< This is a toughy and likely the tip of the iceberg. As states confront their financial reality, they will pull out the stops to garner $$$. Gonna need some intense lobbying. >>

Agree. Some states will cut spending while others will raise taxes. A few will do both. Coin collectors are an easy target because they won't riot in the streets like the teachers unions are doing.

Aegis3 · February 22, 2011 4:53AM

<< 

<< This is a toughy and likely the tip of the iceberg. As states confront their financial reality, they will pull out the stops to garner $$$. Gonna need some intense lobbying. >>

Agree. Some states will cut spending while others will raise taxes. A few will do both. Coin collectors are an easy target because they won't riot in the streets like the teachers unions are doing. >>

...Perhaps because a sales tax exemption on luxury items is completely different than an attack on basic worker (aka human) rights.

llafoe · February 22, 2011 4:57AM

<< 

<< 

<< This is a toughy and likely the tip of the iceberg. As states confront their financial reality, they will pull out the stops to garner $$$. Gonna need some intense lobbying. >>

Agree. Some states will cut spending while others will raise taxes. A few will do both. Coin collectors are an easy target because they won't riot in the streets like the teachers unions are doing. >>

...Perhaps because a sales tax exemption on luxury items is completely different than an attack on basic worker (aka human) rights. >>

Huh? Union workers only comprise 9% of all workers in the US. All they're trying to do in Wisconsin is to bring the union workers in line with the remaining 91% of workers.

Aegis3 · February 22, 2011 5:11AM

<< 

<< 

<< 

<< This is a toughy and likely the tip of the iceberg. As states confront their financial reality, they will pull out the stops to garner $$$. Gonna need some intense lobbying. >>

Agree. Some states will cut spending while others will raise taxes. A few will do both. Coin collectors are an easy target because they won't riot in the streets like the teachers unions are doing. >>

...Perhaps because a sales tax exemption on luxury items is completely different than an attack on basic worker (aka human) rights. >>

Huh? Union workers only comprise 9% of all workers in the US. All they're trying to do in Wisconsin is to bring the union workers in line with the remaining 91% of workers. >>

Since we're going off topic (and I apologize for continuing to do so), I'll make this my last post on Wisconsin. The solution, when between two groups, one group has the ability to exercise their human rights, and one does not, is not to take away the rights from the one group, but rather to also give them to the group that does not and should have them. The problem is not that 9% of workers have some ability to bargain collectively; the problem is that 91% of workers do not.

And thus ends my speech on Wisconsin in these forums.

Dentuck · February 22, 2011 5:12AM

This was my email:

===============================================

Good afternoon,

I’m writing to express my opposition to HB 206 – Sales and Use Tax Exemption for Precious Metal Bullion and Coins – Repeal.

Repealing this sales-tax exemption would be harmful for the city of Baltimore (host of several coin shows annually), the state of Maryland, and the businesspeople and citizens who currently enjoy going to Baltimore to buy and sell collectible coins and bullion.

I respectfully request that you vote an Unfavorable Report on HB 206.

Sincerely,

-- Dennis Tucker

========

Dennis Tucker, Publisher
Whitman Publishing, LLC
3101 Clairmont Road, Suite G
Atlanta GA 30329
Phone: 404-235-5348
Fax: 678-891-4599
dennis.tucker@whitmanbooks.com

Read The Whitman Review online at www.WhitmanReview.com

RichieURich · February 22, 2011 5:41AM

Here is the email I sent:

To the Honorable Member of the Maryland General Assembly House Ways and Means Committee:

I am a coin dealer from Pennsylvania, and I have a table at the three coin shows held at the Baltimore Convention Center every year. I am very much opposed to HB 206 - Sales and Use Tax Exemption for Precious Metal Bullion and Coins – Repeal. The reasons I am opposed to it are (1) that the sales tax exemption has been critically important to the success of the three major shows conducted at the Convention Center in Baltimore each year over the past 20 years, (2) the repeal of the sales tax exemption would result in significant loss of economic benefit to both Maryland and Baltimore, since the three shows would likely be moved to a friendlier state with no sales tax, and (3) not only would Maryland lose the sales tax on sales under $1,000, but the City of Baltimore would also lose significant revenue from the loss of the hotel tax on thousands of hotel-room nights per year as well as the retail and restaurant spending in Baltimore generated by the show participants, and (4) Pennsylvania used to have this tax but removed it, and new coin shows have moved into the state, generating significant spending by show participants for hotels, restaurants and meals.

Therefore, I respectfully request that the Ways & Means Committee vote an Unfavorable Report on HB 206.

Thank you for considering my view on this matter.

RichieURich · February 22, 2011 5:42AM

<< I run the PAN show, which is held 2 times a year, and here in PA there is NO sales tax on coin or bullionin PA.

This is a big help. People from WV, OH, and MD can save alot by buying at the show.

This is a hugh benefit to both dealers and collectors.

MD lawmakes should look closly and see the benefits to changing this law. >>

Pat, MD already has an exemption for sales over $1,000. The purpose of this bad bill is to repeal the exemption, so that every sale would be taxed to its full amount.

rld14 · February 22, 2011 5:49AM

Here's what I sent... It's a bit rambly as I wrote it while on the phone but the point gets across I think.

To the Honorable members of the Maryland General Assembly:

My name is ****** ******* and I am a collector of rare coins and investor in Bullion from New Jersey. I have recently become aware that the State of Maryland is considering repealing the sales tax exemption for collectible/rare coins and bullion.

I implore you to reconsider this decision as the potential economic impact on the State of Maryland could be substantial. I travel to Baltimore three times per year for major, national-level coin shows held at the Baltimore Convention Center. I am not alone, thousands of collectors and dealers come to these shows from all over the country, and one of the largest auctioneers of rare coins holds substantial and very popular auctions at the show as well.

The Baltimore shows attract high profile dealers and collectors from all across the country giving this show a national draw. Since we're generally from outside Maryland, we stay in hotels, eat at restaurants and provide substantial revenue for both Baltimore and the State of Maryland. On average, when I attend a show in Baltimore, I spend an average of $600 on lodging, meals, drinks and entertainment. Now consider that I am one of but thousands who do so, on top of that local security firms are employed, the Baltimore Convention Center reaps substantial revenue from hosting the event.

It has already been made clear to us that the organizer of the show, Whitman, will move these shows outside of Maryland, quite likely to Philadelphia, Pennsylvania where there is no sales tax on coins and bullion, should House Bill 206 pass to law.

I implore you to consider the effects that passing this bill will cause, it would be a shame if Baltimore were to lose these shows, those of us who travel to Baltimore for the Whitman shows always have a great time, it would be a shame for this to end.

I thank you in advance for your consideration.

*** *******
****** New Jersey.

timcoin · February 22, 2011 6:11AM

Reply email I received. Of course, she is a Republican.

Tim, I oppose HB206 and realize that there are quite a number of large coin shows in this state. The hearing is scheduled in my committee tomorrow and I plan to voice my opposition to this bill. I appreciate your writing and stating some important points.

Regards,

Kathy Afzali

Delegate Kathy Afzali
Maryland District 4A
Suite 319 - Lowe's Building
6 Bladen Street
Annapolis, MD 21401
410-841-3288

CoinRaritiesOnline · February 22, 2011 6:15AM

OMG -- a real reply from a real person (even if it likely was a staff member)! And it looks like they actually read the email you sent.

If I lived in MD she would automatically get my vote.

llafoe · February 22, 2011 6:17AM

She's from a Navy town... of course she's a Republican and of course she replied!

shorecoll · February 22, 2011 6:23AM

I wouldn't be surprised by several replies...some of these people serve small rural areas, it's not like e-mailing the White House.

rld14 · February 22, 2011 7:37AM

I also got a reply from Ms. Afzali as well as from Aruna Miller which was rather less positive.

Let's hope this doesn't get passed, it would be a shame to lose the Baltimore shows.

Aegis3 · February 22, 2011 7:46AM

<< I also got a reply from Ms. Afzali as well as from Aruna Miller which was rather less positive.

Let's hope this doesn't get passed, it would be a shame to lose the Baltimore shows. >>

I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship.

Elcontador · February 22, 2011 8:04AM

If this is not repealed, what will probably happen is that more coins which people want to buy at the Baltimore shows will be shipped from out of state dealer's locations to said buyers.

If the buyers are located in Maryland, they're legally required to pick up the "use tax" re the non-taxed purchase of tangible personal property from an out of state source. Said out of state dealers are not required to collect such tax unless they have a standard State of Maryland sales tax permit.

In state Maryland dealers have nowhere to go with this, other than charge the tax.

Coinosaurus · February 22, 2011 8:13AM

<< 
I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship. >>

Aegis-

You are usually the epitome of reason. Is anyone else struggling like I am to parse this?

EagleEye · February 22, 2011 8:14AM

I sent my e-mail.

FISCAL AND POLICY NOTE

Comment page

MidLifeCrisis · February 22, 2011 8:49AM

Email sent.

I borrowed your text, CRO.

coinguy1 · February 22, 2011 8:54AM

<< 

<< 
I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship. >>

Aegis-

You are usually the epitome of reason. Is anyone else struggling like I am to parse this? >>

His post sounds quite reasonable to me. I agree that it's unlikely the show would be moved, just by virtue of a repeal of the sales tax exemption. He didn't say he is in favor of the repeal, only that it wouldn't be the death of the show.

golfer72 · February 22, 2011 9:06AM

Sorry to hear this. There was s show in New Jersey years ago at the Meadowlands for 2 or 3 years that I believe got scrapped due to this sales tax nonsense. Too bad it was a good show and I hope the same thing does not happen to Baltimore.

RichieURich · February 22, 2011 9:20AM

<< 

<< 

<< 
I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship. >>

Aegis-

You are usually the epitome of reason. Is anyone else struggling like I am to parse this? >>

His post sounds quite reasonable to me. I agree that it's unlikely the show would be moved, just by virtue of a repeal of the sales tax exemption. He didn't say he is in favor of the repeal, only that it wouldn't be the death of the show. >>

Does anyone remember the Nashville show Whitman held in 2009? So many tax issues, such a high tax rate that applied to every sales dollar, resulted in a lot of complaints from dealers. Result = no Whitman Nashville show in 2010.

OPA · February 22, 2011 9:22AM

I live in MD and the State, for the most part, is run by BHL Democrats.

Good luck, but I would not get my hopes up.

coinguy1 · February 22, 2011 9:24AM

<< 

<< 

<< 

<< 
I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship. >>

Aegis-

You are usually the epitome of reason. Is anyone else struggling like I am to parse this? >>

His post sounds quite reasonable to me. I agree that it's unlikely the show would be moved, just by virtue of a repeal of the sales tax exemption. He didn't say he is in favor of the repeal, only that it wouldn't be the death of the show. >>

Does anyone remember the Nashville show Whitman held in 2009? So many tax issues, such a high tax rate that applied to every sales dollar, resulted in a lot of complaints from dealers. Result = no Whitman Nashville show in 2010. >>

But it wasn't a well established show, like Baltimore, was it?

RichieURich · February 22, 2011 10:12AM

<< Does anyone remember the Nashville show Whitman held in 2009? So many tax issues, such a high tax rate that applied to every sales dollar, resulted in a lot of complaints from dealers. Result = no Whitman Nashville show in 2010. >>

But it wasn't a well established show, like Baltimore, was it? >>

You are correct, that was the first time it was held in Nashville. It had been in Atlanta the prior year.

truecollector70 · February 22, 2011 10:24AM

Could the Maryland dealers explain what would happen if this law is not repealed?

If I buy coins or bullion at the Baltimore Show do I pay a tax? (and how much)

If I am a dealer from out of state do I collect tax?

If I consign to the auction do I pay a tax or does the buyer pay on top of his final cost?

Like to express concerns to the repeal, as most will here, but would like to know how it affects all the above .

coindeuce · February 22, 2011 11:32AM

<< 

<< 

<< 
I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship. >>

Aegis-

You are usually the epitome of reason. Is anyone else struggling like I am to parse this? >>

His post sounds quite reasonable to me. I agree that it's unlikely the show would be moved, just by virtue of a repeal of the sales tax exemption. He didn't say he is in favor of the repeal, only that it wouldn't be the death of the show. >>

Maybe you should review what happened in Ohio under similar circumstances.

Aegis3 · February 22, 2011 11:37AM

<< 

<< 
I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship. >>

Aegis-

You are usually the epitome of reason. Is anyone else struggling like I am to parse this? >>

I can write long-winded run-on sentences.

We are talking about sales only above $1,000. (Admittedly, a deal level I've gone above just once). Those below $1,000 are already applicable to sales tax, and that would not change; just those above $1,000. And I think in the grand scheme of things, that's not a coin show location deal-breaker.

And to keep me from having multiple posts in a row...

Mark F: Actually, I am in partial favor of repeal. I think coin sales above $1,000 should be taxed at the same rate as those below.[1] I also, however, think that bullion sales, sold within a reasonable markup of bullion values, should not be taxed. This includes levels both above and below $1,000. I realize my view may not be too popular here. I think coin sales should be considered the same to sales of any other collectible items.

truecollector: Technically, at the Baltimore shows sales tax is applicable on sales below $1,000. (I'm not sure about issues between MD and out-of-state dealers). I've been going to the assorted large Baltimore shows on-and-off since 1987. All my purchases there have been below $1,000 per dealer per show, often much less. I can count on one finger the number of times sales tax has been explicitly added to the purchase price (books purchased from the ANS). There have also been one or two times dealers have tried to play the "check price is higher than cash price, because of tax reporting" dodge (I won't mention who). Which means that the vast majority of purchases sales tax has either been implicitly added in the purchase price and reported later, or just not reported. I'd like to think it's mainly the first, and only rarely the second.

*****
[1] I have, in the past (and present), been suspicious of sales taxes in general; they are, of course, regressive by their nature. But I've been coming around to the view that it is best to governments to have a selection of low but broad-based taxes, as different revenue sources react differently in different economic times. And so some sales tax may be in some sense necessary; I'm just not enough of an expert to say one way or another, nor is it really a big issue with me so long as rates are relatively low.

coinguy1 · February 22, 2011 11:38AM

<< 

<< 

<< 

<< 
I wouldn't worry too much about that. Baltimore has been a coin show town because it's good for a coin show town, and the tax structure is way down on the reasons why. I'm sure Whitman is not so petty that a small change in the tax law that instead of just the many collectors spending less than $1,000/dealer needing to pay tax to the many collectors spending less than $1,000/dealer plus the few sometimes spending over $1,000/dealer would cause them to abandon ship. >>

Aegis-

You are usually the epitome of reason. Is anyone else struggling like I am to parse this? >>

His post sounds quite reasonable to me. I agree that it's unlikely the show would be moved, just by virtue of a repeal of the sales tax exemption. He didn't say he is in favor of the repeal, only that it wouldn't be the death of the show. >>

Maybe you should review what happened in Ohio under similar circumstances. >>

What large Ohio show was anywhere near as successful over a long period of time, as Baltimore, and is now extinct, due to a repeal of a sales tax exemption?

ThePennyLady · February 22, 2011 11:42AM

I sent and email as well!

coindeuce · February 22, 2011 12:08PM

CD:"Maybe you should review what happened in Ohio under similar circumstances."

CG1: "What large Ohio show was anywhere near as successful over a long period of time, as Baltimore, and is now extinct, due to a repeal of a sales tax exemption?"

How does the size or degree of success or length of service of any show anywhere have any relevance at all other than the end result? The fact of the matter here is that the Maryland Legislature is targeting a certain perceived revenue source by their proposal, which may or may not have the same effect as it did in other general but similar circumstances. The precedent has been set. If you don't see it that way, apparently it may be because it doesn't or won't affect you in any way.

On a different level, I find it peculiar that the coin grading services are not expected to collect sales tax on the services that they provide in states (i.e. major shows) other than those in which they have an established physical address. Why would the sale of a coin/banknote/bullion ingot be any different than the sale of a service?

coinguy1 · February 22, 2011 2:31PM

<< CD:"Maybe you should review what happened in Ohio under similar circumstances."

CG1: "What large Ohio show was anywhere near as successful over a long period of time, as Baltimore, and is now extinct, due to a repeal of a sales tax exemption?"

How does the size or degree of success or length of service of any show anywhere have any relevance at all other than the end result? The fact of the matter here is that the Maryland Legislature is targeting a certain perceived revenue source by their proposal, which may or may not have the same effect as it did in other general but similar circumstances. The precedent has been set. If you don't see it that way, apparently it may be because it doesn't or won't affect you in any way.

On a different level, I find it peculiar that the coin grading services are not expected to collect sales tax on the services that they provide in states (i.e. major shows) other than those in which they have an established physical address. Why would the sale of a coin/banknote/bullion ingot be any different than the sale of a service? >>

The strength of the show is very relevant. A new and/or typically slow/weak show likely wouldn't be able to withstand whatever hit would result from a repeal of sales tax exemptions, the way a strong show could.

And in many instances services are treated differently than sales, for purposes of (sales) taxes.

Frankcoins · February 22, 2011 2:45PM

<< Why do democrats hate numismatics!?! >>

Why are you making such a partisan comment? Coin and bullion exemptions have been passed and repealed in states controlled by both parties.
Pennsylvania Gov. Edward Rendell, a Democrat, last year signed an extension of coin and bullion exemption after ICTA and dealers explained
that such taxes result in a net loss for states.

Frankcoins · February 22, 2011 2:47PM

<< 

<< This is a toughy and likely the tip of the iceberg. As states confront their financial reality, they will pull out the stops to garner $$$. Gonna need some intense lobbying. >>

Agree. Some states will cut spending while others will raise taxes. A few will do both. Coin collectors are an easy target because they won't riot in the streets like the teachers unions are doing. >>

The teachers are rioting? Or are you just being dishonest again?

NewEnglandRarities · February 22, 2011 3:16PM

Email sent and thanks for bringing this to our attention Dave.

PerryHall · February 22, 2011 7:47PM

<< 

<< 

<< This is a toughy and likely the tip of the iceberg. As states confront their financial reality, they will pull out the stops to garner $$$. Gonna need some intense lobbying. >>

Agree. Some states will cut spending while others will raise taxes. A few will do both. Coin collectors are an easy target because they won't riot in the streets like the teachers unions are doing. >>

The teachers are rioting? Or are you just being dishonest again? >>

No, Frank. It's called hyperbole---a figure of speech in which exaggeration is used for emphasis to make a point. But I'm sure you already knew this.

BillJones · February 22, 2011 11:17PM

Unfortunately I could not get any of the email lists to work on my computer.

The thing that states have to realize is that sometimes raising taxes results in less revenue, not more. If you drive business from your state by making it expensive to do business there, you will be worse off. But that's hard message to sell to those who do not understand economic concepts like the elasticity of demand.

ricko · February 22, 2011 11:41PM

If one takes the time to compile a list of ALL the taxes we pay, it becomes shocking. I am in favor of massive tax repeal/reduction and force town/city/county/state/federal govvernments to reduce spending drastically and focus only on governmental priorities. Far too much waste and fraud in all levels of government. Email sent. Cheers, RickO

BillJones · February 23, 2011 12:06AM

<< Does anyone remember the Nashville show Whitman held in 2009? So many tax issues, such a high tax rate that applied to every sales dollar, resulted in a lot of complaints from dealers. Result = no Whitman Nashville show in 2010. >>

I could never understand why Whitman tried to start a show in Tennessee. That state has some the highest and most unfriendly coin related sales laws in The United States. Until Tennessee modifies their tax laws at least to the extent when there is an exemption for sales of $1,000 or more, there is really no hope of holding a major show there

mrearlygold · February 23, 2011 12:21AM

<< Unfortunately I could not get any of the email lists to work on my computer.

The thing that states have to realize is that sometimes raising taxes results in less revenue, not more. If you drive business from your state by making it expensive to do business there, you will be worse off. But that's hard message to sell to those who do not understand economic concepts like the elasticity of demand. >>

Florida is a perfect example of that fact.

Baltimore Coin Show Alert! HB 206 - The Repeal of the Sales and Use Tax Exemption for Coins and Bul

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