Sales Tax Info by State: Coins, Bullion, Paper Money
Posted: Fri Sep 20, 2019 6:40 pmIn another thread about a totally different topic someone brought up the subject of sales taxes charged for coins and how they vary from state to state. I thought I'd start a separate thread on this important topic. Here is a link to begin the discussion.
https://thecoinologist.com/sales-tax-st ... breakdown/
There are likely many other websites out there with valuable info, but this was the first apparently decent one that I was able to find back in the day.
A few caveats:
1) Sometimes states don't charge sales tax, but certain cities within those states may (examples: AK and CO).
2) Sometimes there is no sales tax on bullion, but the sale of paper money is taxable (examples: CA, LA and MO).
3) Some states have certain thresholds, above which no sales tax is charged (examples: $1,500 in CA, $1,000 in both MA and MD).
Essentially, these 21 states appear to be the most tax friendly to the coin community:
AZ
DE
GA
ID
IL
IN
IA
MI
MO
NE
NH
ND
OK
OR
PA
RI
SC
SD
TX
UT
WA
One of the strangest ones that I saw was OH, which charges sales tax on 40% silver halves, but not on 90%.
I don't see dates listed for when the information was added for many of the states, so call in advance before making purchases in case laws have changed. Also, you might consider bookmarking this thread so you can find it more easily in the future.
Good luck.
https://thecoinologist.com/sales-tax-st ... breakdown/
There are likely many other websites out there with valuable info, but this was the first apparently decent one that I was able to find back in the day.
A few caveats:
1) Sometimes states don't charge sales tax, but certain cities within those states may (examples: AK and CO).
2) Sometimes there is no sales tax on bullion, but the sale of paper money is taxable (examples: CA, LA and MO).
3) Some states have certain thresholds, above which no sales tax is charged (examples: $1,500 in CA, $1,000 in both MA and MD).
Essentially, these 21 states appear to be the most tax friendly to the coin community:
AZ
DE
GA
ID
IL
IN
IA
MI
MO
NE
NH
ND
OK
OR
PA
RI
SC
SD
TX
UT
WA
One of the strangest ones that I saw was OH, which charges sales tax on 40% silver halves, but not on 90%.
I don't see dates listed for when the information was added for many of the states, so call in advance before making purchases in case laws have changed. Also, you might consider bookmarking this thread so you can find it more easily in the future.
Good luck.