Sales Tax on Gold and Silver Sales
Starting in 2019, I found an unwelcome change in my online purchases of gold and sliver. When getting to the payment portion of the order, I found that a sales tax for my state was levied. I went to my two favorite online sites and found both attempted to levy the tax. I then went to my local coin store, and found they also were charging sales tax to buy silver American Eagles. Am I stuck with this, or is there a way to work around my government charging me for purchasing real money with fiat?
Sales Tax
I am in a similar situation. Maybe your Local Coin Shop operator has a personal stack they are willing to sell from for cash. This requires a good bit of trust/confidence. You might have to close the deals off-premises, etc.
With premiums this high, cost savings like that add up.
taxes
You guys live in the wrong state. How much is the sales tax?
7%+
I am at 7%+ range for sales tax. It varies a bit by municipality.
Maybe buy junk silver
I thought I read that they couldn't tax so called "money". So junk silver should be tax free ?
Not all states
Some states don't charge sales tax, but you have to buy in person in that state.
Your situation really sucks.
Your situation really sucks. I own a small business. I have a few shops with different phone cases and protect glasses and stuff like that. I buy these from Asian countries so there are always problems with taxes. Moreover, I don't avoid it, but I don't like when the government asks more money than it actually needs. I lost quite a lot of money to pay these taxes, but then I found a platform who actually supports small business and can help you with taxes payment. They are really pros in it. Now I work with them and I don't lose this much money on taxes than I did before. Good luck!
