EBay tax on 90% and pre 33 gold .

This may help get you started...

https://www.jmbullion.com/tax/

 

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Yea it is NY, A few months ago My Cigar dealer in the Carolina's started charging me tax on my online purchases.

 

All Sellers in every state in the USA have new Sales Tax collection requirements due to the 2018 Supreme Court decision regarding Sales Tax collection laws and requirements.

Sales Tax is determined and based upon the state where the goods are delivered.

For the collection of Sales Tax for BULLION which is delivered to New York State the law is stated here:

https://www.jmbullion.com/tax/new-york/

If I understand it correctly, it means that if you are buying Gold:

If the entire sale of all that you are buying is above $1,000 AND the price of the gold coin(s) you are buying does not exceed 115% of the closing spot price of Gold on that day, then they won't charge you Sales Tax. Otherwise they are required to charge Sales Tax.

If you are buying Silver, it's ditto the above at 140%.

If your purchase is BELOW $1,000 then they are required to charge Sales Tax.

Those are the laws for New York State regarding Bullion. Every state has it's own laws for specific items (so that every seller can be confused by 50 different states' laws! ).

It is not only JM Bullion that is now following these new laws, but APMEX and Provident Metals are following them as well. I don't know about other online bullion dealers.

This would mean that New York State buyers should probably be grouping their purchases into a total sale of $1,000 or more in order to avoid New York State Sales Tax. It also means that doing some math as to the percentage of Gold and Silver being purchased, relative to Spot is a good idea because the sellers will need to do that math to determine if your sale should be taxed or not.

Although New York State Sales Tax varies by Jurisdiction, it tends to be up there in terms of one of the higher percentages in the country. The New York City Sales Tax rate is currently 8.75%.

Suffice it to say that States across the Union were extremely happy about the 2018 Supreme Court decision. States are going to be raking in lots of Sales Tax now.

Amazon and eBay are charging Sales Tax for every taxable purchase based upon the state and jurisdiction in which the items are delivered. I believe there are 5 states that currently do not charge any Sales Tax, and obviously purchases shipped to those states will not be taxed. But all others will be if the items are sales taxable according to those states' laws.

You know what they say about death and taxes...

 

https://thecoinologist.com/sales-tax-state-by-state-breakdown/

 

When the government starts selling ASE's for the $1 face value you probably won't have to pay sales tax. Until then we are stuck. Having to pay a premium on the front end (18 times face value?) and getting a guarantee it will be worth $1-I really don't consider that to be holding value.

 

First post so I hope I do this right. Had 1st hand experience with this about 2 weeks ago. 8% ebay bucks used on auction by seller from Maryland. I am in Pennsylvania and the sale was for 90% silver dimes which I have never had to pay sales tax on before.

As soon as I began the payment process I noted the 6% PA sales tax. I went to PA Revenue department website first to ensure nothing had changed regarding taxability of this type of purchase. It had not.

I requested ebay customer service call me. CS person told me that eBay's system was showing the sales tax on all purchases made within states that had sales tax "but" that when I go to the actual payment screen it would no longer show the tax.

I went to the next screen, prior to confirming payment, and sure enough the tax was no longer showing so I completed payment while on the phone with the ebay CS rep just to ensure it did not get added. It was not.

So before you decide to cancel your purchase because of eBay's system showing tax, take the payment process to the final screen before confirming and this 'should' show if the purchase is or is not taxable in your state. Hope this helps.

 

APMEX has a handy sales tax map/chart plus detailed explanations of current tax policies - click on your state to find sales tax info for coins & bullion - APMEX was an early adopter of sales tax, so their info should be accurate.
https://www.apmex.com/state-sales-tax-information

 

Provident Metals began collecting NJ sales tax in June 2019
The only online dealer I know of not collecting sales tax (yet) is Monument Metals in MD:
https://monumentmetals.com/

 

Sounds like some more taxation with out representation.

 

Right, right, because sales taxes weren't made by elected officials or anything. And it's not like we voted in presidential elections to determine the guy to nominate Supreme Court justices to decide the constitutionality of things like interstate sales tax collection.

*facepalm*

 

The 8-10% bonus buck$ used to be a great deal for coins - now it just offsets the cost of tax and shipping and little else

 

Yep , well the tax don't have cap , but ebuck have cap at $ 100 , if you buying $ 1500 gold coin you got $ 120 on tax .

 

Ounces the taxes get beyond the taxes payers reach then you lose your home and property in time. Then you can live in government housing like so many of my friends over seas do. Its communistic. I mean socialistic. Sorry to political. I'll shut up.

 

So basicaly your government is taking care of the rich (those who buy large amounts) and putting the screws to the average collector? Just burns me up!

 

It's not communistic or socialistic. You're just uniformed.

Taxing bullion, in my opinion, is terrible policy because it is discriminatory about a particular form of investing. It is already taxed as capital gains, so there should be no taxing in the initial purchase. It should be treated more like stocks (only cap gain taxes) and less like a collectible like a beanie baby (sales tax and cap gain).
However, none of that equals "taxation without representation" and taxing the purchase of something is not communistic or socialist. You need a refresher on civics, not to mention the English language.

 

My English may not be up to pare for you. But I do not need a refresher. My dad collected delinquent taxes when new taxes laws came into existences in the 1960's. Because my English is not so good I will not try and explain the intricate details of the government taxing the working class to despair. I am in favor of a flat tax maybe your not. You probably know more about it than any one any ways. I will say that taxing any real investment like bullion is nonsense. How many times do Americans need to pay taxes on the money they work for. The gains of investments should be off limits. After all the investor is being a responsible person who has planed for his future. The government would tax the air we breath if they could. People even get taxed for not having government mandated insurances that is inferior and that is socialist in a lot more peoples minds than mine. I am blessed to have good insurances but my friends get taxed for something the government decides to forces on Americans with out our vote or approval. I hope my bad English is not to difficult for you. Had a head injury while serving my country and spell check is the best I can do. Have your self a refresher on being a polite human being. I use to be articulate but I was never a rude jerk.

 

I am a new member. First post! I am old, fat, ugly and conservative! So will those be added to me also being poor and not articulate? I did a search on "sales tax". Did
find some info on taxes and helpful. But what do I respond to is the "jerk" (sorry)
complaining about being "articulate". Is this the petty things needed on this site?
Like I said not rich but lived in America for 70 plus years, paid taxes, no felonies.
Who the hell is this guy to judge me?? That's my rant!! This is turning into a novel!
All I want out of the board is the info!

 

There's nothing wrong with you being old or conservative, as long as what you post is factually correct.

However, I am concerned about your weight. What do your health care providers have to say about your fatness?

 

I know it is difficult, but there are undesirable individuals everywhere, just "ignore/block" them, and be happy about who you are. There generally is a "better" class of considerate individuals here.

JMHO

 

As with all forums or groups of people there will always be ones that upset you. Learn who they are and avoid them. Most of us are normal but some aren't.