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High versus low auction premiums: buying versus selling
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<p>[QUOTE="calcol, post: 26520010, member: 77639"]Because of the U.S. Supreme Court decision in the suit brought by South Dakota (the infamous Wayfair decision), U.S. companies selling out of state via mail, internet, etc. are required to collect applicable sales taxes and forward them to the state to which the merchandise is being shipped. Does not matter whether the company has a physical presence in the state. GC does indeed collect applicable sales tax. I’ve talked to Ian Russell (co-owner of GC) about it. It’s a big accounting headache.</p><p><br /></p><p>Applicable sales tax on coins and PMs varies a lot among states. Enforcement of collection of taxes on out of state sales can be via several means: civil suit against the seller, local enforcement against the buyer, cooperative enforcement involving both states, etc. However, small companies selling out of state may not be noticed by the authorities or be considered not worth pursuing.</p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 26520010, member: 77639"]Because of the U.S. Supreme Court decision in the suit brought by South Dakota (the infamous Wayfair decision), U.S. companies selling out of state via mail, internet, etc. are required to collect applicable sales taxes and forward them to the state to which the merchandise is being shipped. Does not matter whether the company has a physical presence in the state. GC does indeed collect applicable sales tax. I’ve talked to Ian Russell (co-owner of GC) about it. It’s a big accounting headache. Applicable sales tax on coins and PMs varies a lot among states. Enforcement of collection of taxes on out of state sales can be via several means: civil suit against the seller, local enforcement against the buyer, cooperative enforcement involving both states, etc. However, small companies selling out of state may not be noticed by the authorities or be considered not worth pursuing. Mike[/QUOTE]
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High versus low auction premiums: buying versus selling
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