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Ohio coin dealers must now pay sales tax


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It really came as no surprise, the only way it was not going to happen would

have been a line item veto from Gov. Taft but that was not in the cards at all.

 

How that will affect the future of coin shows in Ohio is uncertain. Out of state

dealers are not going to be happy dealing with that paper work.

 

 

 

But beginning today, smokers will pay 70 cents more per pack of cigarettes, shoppers will continue to pay half of the penny-on-the-dollar sales tax surcharge that was supposed to expire today, and coin dealers will lose their sales tax exemption.

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Ouch. That will be toughest on the smoking coin shoppers.

Hey, stop that!! How am I suposed to sell my nicotine toned Franklins if you keep that up? :ninja:

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Ahh... but I don't think they are allowed to do exactly that. I think by law retailers aren't allowed to give discounts based on tax amounts. They have to disguise it by giving a discount not called a 'tax avoidance discount'. Our taxes here in SW PA are 7% but the retailer can't say I am giving you a break on the sales tax because they still have to pay it. They can give me a 7% good customer discount, but they can't call it a tax free sale.

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I believe that the busy body legislatures have passed 'consumer protection laws' so that the consumer must be charged the price advertised and then the tax added to that price.

 

I know that many transactions go like this:

 

Customer: "How much for this coin?"

Dealer: "It was 15 on the sticker but I will take 12 dollars"

Customer: "Deal."

 

At that point the price is 12 dollars plus tax. If the customer is an IRS agent or some other government entity looking into your business dealings and you did not charge sales tax or then agreed to not charge it to the customer you have just asked for a world of hurt.

 

You have to be careful.

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