Anyone Near Fort Mill, Sout Carolina? Need advice on buying silver.

Hi. I would like to go to SC to buy silver. I was thinking of going to an upcoming coin show in SC in a week or two to buy some maples or eagles. I am also looking for a reputable dealer or two. Does anyone out there have a good recommendation for a silver and maple dealer near Fort Mill or the surrounding area?

 

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Just a reminder. Although if you purchase an item in a different state (so to avoid sales taxes, etc.), legally most states have a USE tax that is equal to a sales tax amount that you are legally obligated to pay for having something you USE (or maintain) in your home state. So technically you would probably owe the same amount.

[h=3]What is use tax?[/h]The use tax is a tax due on purchases, leases, and rentals of tangible personal property and certain digital property purchased, leased or rented inside or outside this State for storage, use, or consumption in North Carolina. The use tax is also due on taxable services sourced to North Carolina. The use tax is paid to the North Carolina Department of Revenue by the purchaser when the North Carolina tax has not been collected by the seller.
[h=3]"What is the use tax rate?[/h]The use tax is calculated at the same rate as the sales tax."

(from http://www.dornc.com/faq/use.html#use)


Weird but true.

 

Thanks for the info!

 

Kasia. Use tax. Yes, some states such as Georgia have such a tax but it is almost universally not enforced is is ignored except for large companies. Don't worry about it.

 

You might do just as well with the big on-line dealers.

Paradise Mint, Provident Metals, APMEX, etc.

 

Hello McBlzr: I have looked at the online ones but I prefer to buy every couple of weeks after getting paid from work.

 

I'm not sure why you are quoting NC law for a purchase in SC. However if you drive to another state and purchase an item, you are absolutely not required to pay tax in your home state. The Supreme Ct. has ruled the states can't do this as it violates the commerce clause of the Constitution. You will be required to pay sales tax in whatever state you make the purchase in. However at most coin shows, this isn't an issue.

The NC law you cited was written to try and impose sales taxes on people in that state who, say go to Amazon to buy something, and Amazon won't collect the sales tax. It does not apply to purchases made by state residents made while in another state. It wouldn't apply to this situation in any case.

 

No, he is correct about the interpretation of a 'use tax'. These mostly come up when someone purchases a car or boat in one state and then brings it home and has to register it.

Technically though, any tax you pay in another state is deductible, but you still owe the tax as if you bought it in your home state. Here are some examples of state documents on the matter:
http://dor.myflorida.com/dor/forms/2011/gt800005.pdf

http://www.window.state.tx.us/taxinfo/boat/index.html

Just like doing 71 in a 70 mph zone, your odds of getting caught skirting this law are low. But, it's not an 'optional' law.

 

First, the law on Use Tax is essentially identical in every state that has sales tax. Second, the person asking the question was from NC, so his state law when he returns is controlling. The Use Tax laws were written in an era of people driving to other states and/or ordering mail order. The internet had not even been invented, the closest was mail order. However, it was and still is common practice to drive to another state to avoid taxes, and the Use Tax laws were written to cover those occasions as well.

Kasia posted an excellent, informative, on point post.

 

No I am not incorrect about that. The law cited above has nothing to do with NC's highway use taxes. The NC law cited above was specifically created to attempt to collect sales tax on-line transactions. In fact the law says you calculate the tax based on the local sales tax.

Highway "Use taxes" are a tax to use the highways in the state. You only have to pay that tax if you decide to place a NC tag on your vehicle. It doesn't matter where you got the car.

 

You simply have no idea what you are talking about.

The tax cited above was only created in 2009. It's known as an "Amazon Tax" though it's an attempt to collect sales tax for any on-line purchases. It has nothing to do with existing highway use taxes. The state used the world "USE" in an attempt to avoid being sued for collecting sales tax.

 

I am very familiar with Use taxes and Sales taxes in general. If you wish to derail this thread we can discuss it.

Short answer is Use taxes were passed in the early thirties mainly as an adjunct to the new idea of state sales taxes to prevent people dodging the new sales tax system. They may have been MODIFIED recently to include the internet, but if you believe they are new you are sadly mistaken.

Who the heck referenced highway Use taxes? Btw, you are wrong about those as well. Highway use taxes are paid by EVERYONE crossing the state using the roads, though in practicality are only assessed on trucking firms as individuals would be too hard to track down. Highway use taxes have nothing to do with Sales and Use taxes.

 

There is no "short answer". You were clearly wrong. The law cited above was created in 2009 and it clearly does not apply to someone going into SC purchasing an item and then driving back into NC with said item. The law cited above is an "Amazon Tax" which in NC was only enacted several years ago. I was responding SPECIFICALLY that this law did not compel someone in Ft. Mill, making a purchase in Ft. Mill to pay a tax once they drove back into NC.

Likewise you are absolutely wrong about the Highway USE tax in NC. That tax is only paid by residents of the state who register a vehicle in the state. it is NOT paid by people driving through the state. They collect gasoline taxes for that. The nonsense about mail order catalogs is just that, nonsense.

You simply have no idea what you are talking about. I challenge you to prove me wrong on these two specific laws. Which BTW was the specific law cited in the example of this topic. I don't care what other states are doing because I wasn't responding to that, nor was it mentioned in this topic until you showed. It's not me who is trying to derail the topic by discussing "generalities".

 

You sir are the one pointedly wrong. Use taxes have been in NC since the early thirties, since the inception of Sales taxes. They may have modified it to include wording for the internet, but since the early thirites if you bought from the Sears catalog you technically owed Use tax to NC. As a practical purpose the state has always mainly gone after businesses, since its too hard to prove with individuals. Point blank, you are wrong. I am sure you will argue, "I was talkign about this law". Doesn't matter, this law, if passed in 2009, simply replaced the earlier Use tax law. Prove me wrong.

Regarding road use taxes, you are also wrong. Yes, there is gas taxes, but what are they supposed to do with semis who didn't fill up in NC but drove through? This is why road use taxes are apportioned by trucking companies based upon miles driven per state, and is not tied to diesel taxes.

I have experience with both types of tax returns Fatima, and have prepared both. I am not trying to be a jerk, just trying to post correct information here. EVERY SINGLE STATE in the US that passed Sales taxes also, at the same time on the same bill, passed Use taxes. In state merchants would SCREAM if you passed a sales tax bill without its use tax counterpart. If your state has a sales tax, I guarantee it has Use tax. Guaranteed.

 

On the example of Sears, with the old law, Sears has always been in NC so the tax applies in any case even if you order from their catalog. Your example doesn't apply.

Since you have apparently done some Google searching you have discovered that the current governor and the NC legislature passed an "Amazon Tax". In order to keep from having to say they created a new tax, they took a sneaky approach. They took an existing law, which had no practical purpose anymore, and rewrote it to make it into an Amazon tax. They then claimed this law had always been there. Because of these tactics, the Governor's political party lost its 100 year control over the legislature and the governor herself has decided not to run again. It's an amazing downfall for someone who was one of Obama's proteges. In any case, I was 100% correct in what I said in that the law as it stands now, does not require a person who purchases a coin in SC, while in SC to pay NC taxes. You jumped in on this not knowing what you are talking about and also derailed the topic.

In addition concerning the the NC Highway Use Tax, like the NC law cited above, you were completely wrong. The NC Highway Use Tax is only assessed on vehicles when their title is registered in the state so the owner can receive a tag. It doesn't matter where the car was purchased. See here. Here is the relevant citation:

North Carolina collects a Highway Use Tax (HUT) on vehicles instead of a state sales tax. [highlight]The tax is assessed each time a title is transferred.[/highlight] ​

It should be obvious, even to a self proclaimed tax expert, that titles registered with the state, only apply to state residents or non-residents with a NC tag. People driving through the state are unaffected. Nothing else to say about it. You were wrong. This is why I pay no mind to someone who constantly claims they are right because they are the expert. As this example proves, they often are not.

 

Your point on Use tax is wrong. The law has always been there, and you saying it was outmoded simply proves you have no experience in business. EVERY SINGLE BUSINESS in NC has filed a Use tax return since the 30's. You are simply wrong. BTW I googled nothing, I know these facts from both education and work history.

Regarding road use taxes, there are series of taxes applied. One may be from license plates, but the higher fee is from taxes on fuel. The fuel tax is the apportioned one, so any professional driver driving across the state has this paid to the state for simply using the roads. Again, I have prepared these returns.

It sounds like a case of someone who knows how to Google, but simply cannot comprehend what he is reading since he has no basis of knowledge. Common occurence, especially on internet boards. The OP question was about Use taxes, and if NC requires Use tax on coins or bullion, he will required to pay them, and has been required to do so since the 30's. This is not a new thing, all of your googled "facts" aside.

I am done with this. Anyone here can choose to either listen to someone who prepared these returns for a Fortune 100 company, or a self proclaimed internet expert. No sense debating further because Fatima has proven he will never, ever, admit he is wrong. Screaming at the internet simply proves both parties are idiots.

 

Getting back to the OP I live in Columbia and I use St Andrews Silver Center. I've always gotten treated very well and bought some nice ASE's for just a few $'s above spot. I know this may not be as close as yo may have intended but if you come this way I would stop by.

 

^Thank you. Maybe we can now get back to the topic instead of talking about the NC highway taxes and the Sears catalog.

For anyone in this area, it should be noted the Upstate SC Coin Show is the weekend after next from on Feb 24th, 25th, & 26th. Here is the location.

Spartanburg Memorial Auditorium
385 North Church St.
Spartanburg, SC 29304

Easy trip from Ft. Mill & Columbia.

 

I'll be there looking to fill some holes in my Morgan set.

 

Thanks all!

Thank you Fatima and Medoraman for your answers to my question. I did not think it would get so heated. I hope we can all agree that we all hate taxes. I am definately going to the Spartanburg, SC coinshow!

Thankyou to Kaisa, ahearn, Meblzr, GeorgeM, and Pacecar for your replies as well.

In regards to coinshows. Do you think it would be wise to go on the last day t pick up coins at better prices? That is what I was planning on doing, thinking that the dealers who had some overstocked eagles and maples, would lower their prices over spot to clear out their inventory.