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Sales Tax
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Sales and Use Taxes
Around half the states charge sales taxes on coin sales. The sales tax is usually based upon a percentage of the gross sales price and varies from state to state. In the cases where sales taxes are not charged, the states may charge a use tax, designed to effectively generate the same tax revenue that would have been earned under sales tax but when sales tax does not actually apply i.e. internet sales across state lines, etc.
For example, California, New Jersey and New York State residents are all charged sales tax. But please note that any purchase in excess of One Thousand Dollars ($1,000.00) is exempt from California sales tax. So it does vary from state-to-state. For Canadian or overseas residents, duties may be assessed on the contents of an auction shipment.
If you are a dealer in coins who purchases for resell, then you are generally exempt from sales taxes but must go through a process of obtaining a sales tax exemption number and filing the appropriate forms.
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