Tag Archives: icta

Slight Progress on Ebay Erroneous Sales Tax Charges

By Patrick Heller  Two weeks ago, I wrote about the growing problem of how sales facilitators (referred to by many states as “market providers”) such as Amazon and eBay are now required to collect and remit the sales taxes applicable … Continue reading

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Ohio Nixes Coin/Bullion Sales Tax Exemption—Reducing Future Tax Collections

The Ohio legislature, after going back and forth on the issue, sent a fiscal 2020-2021 budget bill to Governor Mike DeWine’s office that eliminates that state’s existing sales tax exemption on precious metals bullion and bullion-priced gold and silver coins, … Continue reading

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New Kansas Bill Provides Sales Tax Exemption

On Thursday, May 16, 2019 Kansas governor Laura Kelly signed into law House Bill 2140, which provides a sales-tax exemption on sales of gold and silver coins and on all gold, silver, platinum, and palladium bullion. “The outcome is not … Continue reading

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West Virginia to end sales taxation on gold and silver

By unanimous vote on March 8, the West Virginia Legislature approved Senate Bill 502, originally introduced by Sen. Craig Blaire (R-Martinsburg), which called for the exemption of taxation on sales of investment metal bullion and investment coins. On March 27, … Continue reading

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Dealer paperwork burdens are soaring

The U.S. Supreme Court decision last June in South Dakota v. Wayfair has unleashed a growing number of new paperwork requirements on all businesses, including everyone who engages in the wholesale and retail sales of coins and precious metals. Unfortunately, … Continue reading

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ICTA honors Darby for service

Alabama coin dealers who spearheaded the effort to win a sales tax exemption in Alabama were recognized Jan. 9 in Orlando, Fla., by the Industry Council for Tangible Assets. Phil Darby of J&P Coins and Currency, Helena, Ala., and Steve … Continue reading

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Fake fight moves from ICTA to foundation

Organized numismatics’ Anti-Counterfeiting Task Force has been transferred from the Industry Council for Tangible Assets to the Anti-Counterfeiting Educational Foundation. This change was effective Nov. 15. Retired Coin World editor Beth Deisher will continue to serve as director of anti-counterfeiting. She … Continue reading

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Fight against counterfeits gets new structure

Organized numismatics’ Anti-Counterfeiting Task Force has been transferred from the Industry Council for Tangible Assets to the Anti-Counterfeiting Educational Foundation. This change was effective Nov. 15. Retired Coin World editor Beth Deisher will continue to serve as director of anti-counterfeiting. She … Continue reading

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Greedy states exaggerate tax yield

Last week, I traveled to another state to meet, along with some of that state’s coin dealers, with revenue and tax officials. The purpose of the meeting was to discuss the impact on state tax collections should a rare coins, … Continue reading

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ICTA Warns Dealers to Have AML Plan in Place

Are American coin dealers’ anti-money laundering plans written and up to snuff? They had better be, according to a new warning issued Feb. 21 by the Industry Council for Tangible Assets. Dealers risk immediate closure of their bank accounts if they are not. Continue reading

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