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Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
We are hoping to establish residency in another state in the next 1-2 years - would have done it sooner if not for baby sitting duties! Hope to resume collecting then! :+1: Thanks for the interesting comments and perspectives. -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
10% of 10% is 1%. -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
Yeah, I'd cancel $100 sale for $1 -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
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… -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
Yes it is. Regressive. State SALES tax is regressive because everyone is taxed on the things they need to survive. Oregon has income tax but no sales tax. Washington and Nevada have no income tax but do have sales tax. Idaho has both. California has both a state income tax and a sales tax. But in California, there is no… -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
Good question. They primarily sell bullion, with a heavy lean toward .999 silver and 90% constitutional. My guess is the 10% sales tax makes it hard for them to compete, and they just don’t bother much with retail sales. Of course this is all pure speculation on my part. That said, I do swing in there occasionally and ask… -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
You'll be glad to hear that NY State is much more "fair". The sales tax on coins never disappears, even if you spend a million! [There is a bullion exemption over $1000.] -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
I'm in NY State. ALL coin sales are taxable. The only exemption is for bullion purchases (defined by the premium over melt) over $1000. And, FWIW, NY State is considering removing the bullion exemption. I do not spend more than $5000 per year on my "collection". In fact, I have not been adding to my collection for probably… -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
In the states where I have lived, you are limited to two garage sales a year. The sales are viewed as “casual sales” and are not subject to sales taxes. Many coin collectors refuse to pay sales taxes at the shows. I had a table at a Massachusetts show when I tried to make a sale to a person who said he was from… -
Re: The 10.1% WA sales tax has taken the wind out of my numismatic sails.
@2windy2fish said: Is that a recent change that has taken place in the past 18 months? I’ve won a number of paper currency items there and GC never charged sales tax leaving the onus on me to pay it.
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