Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Paying sales tax on US Coin/Currency sales
>
Reply to Thread
Message:
<p>[QUOTE="medoraman, post: 996652, member: 26302"]"taxpayers who are most subject to multi jurisdictional filings" in my post refered to WHY the MTC was drafted. I went on to say any state passing laws under this guidance has to affect ALL taxpayers regardless of business status because of Constitutional concerns. States tried to have different sales/use tax laws for individuals versus businesses but those were struck down 50-60 years ago as unconstitutional.</p><p><br /></p><p>So, individuals who buy from out of state sellers MUST submit use tax if the state requires it. Do most people? No. But, all states who do have use tax have been cracking down on enforcement, so you are at risk if you are in that position. I do not have the time to research all states, whether they tax coins or not, whether they have personal exemption limits, etc, so the best I can do is say if coins are taxed in your state, and you have sales tax, then most likely you are subject to use tax for out of state purchases, and you should check with a local tax advisor.</p><p><br /></p><p>Hope that helped.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 996652, member: 26302"]"taxpayers who are most subject to multi jurisdictional filings" in my post refered to WHY the MTC was drafted. I went on to say any state passing laws under this guidance has to affect ALL taxpayers regardless of business status because of Constitutional concerns. States tried to have different sales/use tax laws for individuals versus businesses but those were struck down 50-60 years ago as unconstitutional. So, individuals who buy from out of state sellers MUST submit use tax if the state requires it. Do most people? No. But, all states who do have use tax have been cracking down on enforcement, so you are at risk if you are in that position. I do not have the time to research all states, whether they tax coins or not, whether they have personal exemption limits, etc, so the best I can do is say if coins are taxed in your state, and you have sales tax, then most likely you are subject to use tax for out of state purchases, and you should check with a local tax advisor. Hope that helped.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Paying sales tax on US Coin/Currency sales
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...