Sales tax at coin shows

I don't mind paying sales tax... I like roads, schools, etc. I'm just afraid of some shmoe sticking it in his pocket

 

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Hobo's right, we pay sales tax on everything else, why should coins be any different? The way I avoid it is simple, I live closer to Nevada cities than California cities. CA charges 8.5% tax on everything from newspapers to BMW's, while Nevada charges none for coins.
Guy

 

Since a few have mentioned that they "built it into their price", I will tell you this is illegal. Every state in the country has a law requiring tax to be charged separately, and making it illegal for it to be built into the price. I could go into why if anyone is really interested, but short answer is that you cannot. If someone is not charging you sales tax then they are not collecting it. Even stores that advertise that we will pay the sales tax are skirting the law, but when they invoice you they will invoice sales tax and just make a deduction to their price in an equal amount. In some states even this is illegal.

As a background I was a manager in a corporate tax department responsible for 20 states sales and use taxes, and cross-trained on the 30 states I didn't cover.

 

Many Dealers will look the other way, when cash is flashed. However if your paying by check , that's another story. Being physically disabled, I rarely get out for social settings, so perhaps things may have changed.

 

Nothing has changed... I bought a coin at a show recently... Dealer wanted 225 (Overpriced), I countered with 175, he came back at 190... I said 190 with my credit card, or 180 cash... he took 180 cash. Since sales tax in PA is about $10 on a $180 sale, I'm guessing he just took it under the table, so to speak.

I'd be shocked if a dealer took a check, though, knowing everything that can go wrong with that.

 

please explain how a bar/tavern/pub does it then? i've never been charged sales tax in a bar. even the liquor stores here have it included/built in. i go in and see a sign on the shelf that says $18.20 for a bottle of jack. when i check out, the cashier says "$18.20".

 

While dealers are required by law to collect sales tax, trying to add it at a show may kill the deal. Its sort of like how ebayers are digital about shipping cost. I simply mark up the coins accordingly in both instances and then if they don't pay they can go away. Its amazing how Cheap A Coin Collectors can be LOL and I agree with Hobo. I would like to see some of these guys argue or walk away from the JB or Walmart cashier.

 

Don't forget Movie Theaters.

 

good point. i forgot that one.

 

At theaters I see $10 for the ticket, 70 cents for sales tax, 35 cents for entertainment tax, and then there's another goofy tax and it is all enumerated on the stub.

At the liquor stores I visit, I pay sales tax. I'd be willing to bet if you check your receipt, it shows a price plus sales tax to equal $18.20.

 

Tennessee has a 7% sales tax plus a county sales tax. If I buy a coin or bullion in TN then I will pay a total sales tax of 9.25% on that purchase. Georgia does not have a sales tax on bullion and coins. I live close enough to the Georgia border and I just take the short drive over into Georgia to buy coins and bullion since I do not have to worry about paying a sales tax on that purchase. That works for me.

 

No tax at my local show.

 

Some of my dealers charge sales tax. Unfortunately for me, it is ***8%*** here in New York!!!

 

So your just saying if coin dealers say the coin is $7 and when you get a receipt they add the lines like those two you'd be fine?

 

I believe your the second person to post that you will just buy in another state. I'm just wondering when our government will figure that out with tax's.
States and the US have high tax's they loose sales and some people will even move loosing more revenues.
Hmmm it almost sounds like California having it's revenue problems is a high tax state and they might just be loosing population there too...

 

I forgot to mention that when I buy bullion and coins at coin shows in the state of Tennessee, I do not pay a sales tax. I guess that there is some special exemption for coin shows. The sales tax applies when I buy from local coin shops in Tennessee.

 

try 9.75% in Los Angeles County.

 

Yep. That way the receipt shows taxable amount as well as tax paid. I've usually seen signs that say, "$7 inc. tax" to let the buyer know that he's paying tax.

 

MAN, that's crazy, huh?! The government always needs that extra money!

 

But look what they get for that money. Beaches, great weather, nearly free education.