Sales Tax on Coins/Bullion/Currency by State
Posted: Mon Mar 19, 2018 1:18 amThere 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.
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.