There is a website that I found which shows sales tax rules on coins by state.
thecoinologist.com (dealer in Las Vegas area)
It talks about the law in Ohio which apparently changed in 2017, so it should be fairly current. Also, there are comments below when people find errors, etc. To find the info look to the right of the Home Page and click where it says: "Sales Tax Laws/State by State Breakdown."
Not a bad site for anyone who travels from time to time. Sorry Canada and Mexico, this doesn't have info for those countries.
At the present time it looks like it is about 50/50. About half of the states don't have any tax. The other half have at least the potential to tax, although in some cases it says that if you buy $1,000 or $1,500 then there is no tax. The strangest one I saw was Nevada, where it says "Sales tax is collected on anything that sells for over 50% of its "Face Value."" Wouldn't that include almost everything??? And this site is compiled by a Las Vegas dealer, so you'd think they would know what they are talking about.
Sales Tax on Coins/Bullion/Currency by State
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Sales Tax on Coins/Bullion/Currency by State
by Recyclersteve » Mon Mar 19, 2018 1:18 am
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).
Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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Re: Sales Tax on Coins/Bullion/Currency by State
by Know Common Cents » Sun Aug 12, 2018 10:28 pm
Cash is the king in these situations. For those who decide to tax my purchases in any state and in any amount, thanks for your time, but I'm not interested.
"I don't know what I'm doin' but I'm sure havin' fun" Herman Munster
I've recently adopted the Groucho Marx philosophy for dealing with politics and other life challenges, "Whatever it is, I'm against it!" (Horse Feathers 1932)
I've recently adopted the Groucho Marx philosophy for dealing with politics and other life challenges, "Whatever it is, I'm against it!" (Horse Feathers 1932)
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