Sales tax on on bullion and 90% silver...is that really supposed to happen?

I was at a coin show a few weeks ago and noticed 2 dealers of the 30+ at the event were charging sales tax on bullion (bars ASE's ect...) and 90% silver

I kinda forgot about it til now and was wondering why the taxing or the non taxing happens?

needless to say I didn't buy much from those dealers and there's a "swap meet" type business in town at a strip mall and they charged me tax on a 90% silver halve and that basically was the last time I went in there...at the local coin shop I've never once paid more then say 12x-18x face value and no additional fees or taxes...

unsure if they should have charged tax or not but cause they did they lost my business...

 

Log in or Sign up to hide this ad.

Well it depends on the state your in, the ethics of the dealer etc.

 

A little research on the interent and you should be able to find your state's laws. If you suspect a dealer isn't following the law send a letter to your state's revenue department.

 

I bought a 10oz JM bar from a local coin dealer in Michigan and no tax. I was about to bid on an item on ebay from a Michigan person who said he needed to charge sales tax so I thought this was fishy and passed on the deal.

 

For the upcoming polish american numismatic society coin show, it says "No Michigan Sales Tax on coins or bullion" on their website.
http://www.pans-club.org/shows.htm

 

As far as I know, if your state has sales tax, and you make an in-state purchase on ebay, you pay tax on it by law. It really doesn't matter what it is.

 

it might just be a way for them to make a little extra money? If you ever get proof they are collecting, but not remitting it to the State govt, then report them.