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<p>[QUOTE=&quot;calcol, post: 24679387, member: 77639&quot;]Effective Jan 1 this year, the exempt limit went from $1,500 to $2,000.&nbsp; Applicable legal code is below.&nbsp; Has anyone experienced sales tax being collected on a purchase between $1,500 to $2,000?&nbsp; Could come as a shock to CA residents buying a coin in that range if they aren’t aware.&nbsp; Tax will be at least 8%.&nbsp; I think it’s a unfair law … taxes the poor, but not the rich.&nbsp; Supposed reasoning is that lower cost collectibles are a hobby, but higher cost are investments.&nbsp; It stinks!</p><p><br /></p><p>Cal</p><p>-------------------</p><p><br /></p><p>Neither the sales tax nor the use tax applies to sales of &quot;monetized bullion,&quot; nonmonetized gold or silver bullion, and numismatic coins provided the following conditions are met:</p><p><br /></p><p>(A) The sale is in bulk amount. For sales occurring on or before December 31, 2008, a sale in bulk occurs if the total market value of the monetized bullion, nonmonetized gold or silver bullion, and numismatic coins sold in a single transaction is $1,000 or more.</p><p><br /></p><p>For sales occurring on or after January 1, 2009, and before January 1, 2023, a sale in bulk occurs if the total market value of the monetized bullion, nonmonetized gold or silver bullion, and numismatic coins sold in a single transaction is $1,500 or more.</p><p><br /></p><p>For sales occurring on or after January 1, 2023, a sale in bulk occurs if the total market value of the monetized bullion, nonmonetized gold or silver bullion, and numismatic coins sold in a single transaction is $2,000 or more, or is equal to or exceeds the adjusted amount as computed by Revenue and Taxation Code Section 6355. For purposes of this regulation, market value means sales price as defined in Revenue and Taxation Code Section 6011.[/QUOTE]</p><p><br /></p>

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