Sales tax

No, as a product sold to consumers BY a federal agency, it is sales tax free by law. But then again, in Pennsylvania, all coins and bullion are sales tax free by specific itemized exemption. Can't speak for CA or CO.

 

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Another example of the Government making special rules for itself. Congress passed a law that any entity that gives more than $10 in Interest or Dividend must send the recipient a 1099 form. Except- the Federal Government. We found out the hard way when my wife inherited a few Treasury notes. The Government didn't send us a 1099 so we didn't include the interest on our taxes. We received a letter from the IRS that we owed taxes because we didn't include the Treasury Notes interest, but they would not fine us because it was a common mistake. You have to navigate the Treasury's website, find the section on 1099s and download a copy. The taxes owed were probably less than the postage and time the IRS spent paying the agent that spoke to us.

 

But -- but -- how? The Federal government is where money comes from!

 

But you must understand what a 1099 IS, to understand why that makes PERFECT SENSE. A 1099 is a form by which a payer INFORMS the federal government that a payment has been made! That why it's called an informational form. The federal government apparently does not NEED to inform ITSELF it made such payment. The 1099 isn't for YOU, it's for the federal government. You just get a copy.

 

That's the problem, I didn't get a copy and they don't have to give me one.

 

As a last resort, sure.

 

Standard rule - no government EVER has to give YOU a document THEY don't need. It is THE ULTIMATE exception to all Right to Know or FOIA law requests. They don't have to CREATE NUTHIN' for YOU, just give copies of stuff they already have.

 

Then there’s the ever present resale certificates I think most coin and antique collectors both have a tax number to get out of paying it. They’ll get s case in an antique mall somewhere so they have a business presence. I have 5 tax numbers and several other states give me a form when I’m there I do the majority of my coin shows in nh and ma New Hampshire is tax free too. Why don’t they bring the and convention to good old Manchvegas lots of coin collectors in the area and an airport and no tax

 

Ok, lets just quietly sweep even the thought of a federal sales tax under the rug... never mentioned, never brought it up... nope...

 

The list of modern economy countries WITHOUT a national sales tax or VAT is extremely tiny.

 

I live in Colorado in the Denver Metro Area. Each city around Denver has their own tax laws on coins and bullion. Some do and some don't charge tax. It's funny though, a dealer I know has a shop that he has to charge tax. If it is a big order he drives down the road a little and does the deal and doesn't have to charge tax. Totally legal to do it that way too.

 

Amazon only charges taxes if they handle the fulfilment. You may also be charged taxes if the third party vendor handles fulfilment and they reside in your state.

It just inherited the same machine that mail order had before the internet even existed.

 

Yep. Of course, mail-order was a gnat compared to the behemoth of the Internet. Sometimes a difference in degree becomes a difference in kind.

 

I'm located in Ohio and have still had some cash for gold, pawn shops, and antique stores charge me tax on numismatic items. I've informed managers that there is now an sales tax exemption in Ohio but they claim they haven't heard of it and don't seem to care to check. Is there some way to get them informed?

 

How much you want to bet it's because they aren't actually sending it in to Columbus and are pocketing it as extra margin? Yeah, I know, "cash for gold, pawn shops, and antique stores" not being quite on the up-and-up, right? What are the chances?

 

You might offer to have someone from the Department of Taxation come out to discuss it with them, and maybe do a quick once-over of their books while they're at it...

 

"Hello? Department of Revenue? ... What? ... Yeah, I'll hold until you get finished harassing your assistant. ..."

 

So just out of curiosity. I will be moving to Arlington Virginia, right outside of DC this summer. Where should I look to buy coins? State wise, not venue or specific shop.

 

I know Maryland and Virginia both have good coin club scenes.

 

I just got a 1099 on Interest from U.S. Government HH Bonds. i guess that department didn't get the memo that they don't have to send one to us poor taxpayers.