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<p>[QUOTE=&quot;Good Cents, post: 3637392, member: 100720&quot;]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.</p><p><br /></p><p>Sales Tax is determined and based upon the state where the goods are delivered.</p><p><br /></p><p>For the collection of Sales Tax for BULLION which is delivered to New York State the law is stated here:</p><p><br /></p><p><a href="https://www.jmbullion.com/tax/new-york/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.jmbullion.com/tax/new-york/" rel="nofollow">https://www.jmbullion.com/tax/new-york/</a></p><p><br /></p><p>If I understand it correctly, it means that if you are buying Gold:</p><p><br /></p><p>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&#039;t charge you Sales Tax. Otherwise they are required to charge Sales Tax.</p><p><br /></p><p>If you are buying Silver, it&#039;s ditto the above at 140%.</p><p><br /></p><p>If your purchase is BELOW $1,000 then they are required to charge Sales Tax.</p><p><br /></p><p>Those are the laws for New York State regarding Bullion. Every state has it&#039;s own laws for specific items (so that every seller can be confused by 50 different states&#039; laws! <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie5" alt=":confused:" unselectable="on" unselectable="on" />).</p><p><br /></p><p>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&#039;t know about other online bullion dealers.</p><p><br /></p><p>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.</p><p><br /></p><p>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%.</p><p><br /></p><p>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.</p><p><br /></p><p>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&#039; laws.</p><p><br /></p><p>You know what they say about death and taxes... <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie9" alt=":eek:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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