Sales Tax on Gold and Silver Sales

7 posts / 0 new
Last post
#1 Wed, Aug 12, 2020 - 6:56pm
WillyHans
Offline
Joined: Jul 8, 2020
1
1

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?

Sat, Aug 15, 2020 - 6:30pm
KG
Online
Joined: Jul 22, 2020
85
808

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.

Sun, Aug 16, 2020 - 2:38am
Tyrion
Offline
Joined: Aug 13, 2020
11
11

taxes

You guys live in the wrong state. How much is the sales tax?

Sun, Aug 16, 2020 - 11:01pm Tyrion
KG
Online
Joined: Jul 22, 2020
85
808

7%+

I am at 7%+ range for sales tax. It varies a bit by municipality.

Mon, Aug 17, 2020 - 2:44am
11IMIX
Offline
-
Chicago, IL
Joined: Aug 31, 2011
358
639

Maybe buy junk silver

I thought I read that they couldn't tax so called "money". So junk silver should be tax free ?

I miss my old dog.

Mon, Aug 31, 2020 - 10:31am
JohnH
Offline
Joined: Feb 25, 2012
20
35

Not all states

Some states don't charge sales tax, but you have to buy in person in that state.

Sun, Jan 24, 2021 - 5:52pm
johnny2046
Offline
Joined: Jan 24, 2021
1
0

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!