Sales Delivered in Massachusetts to State Residents
Retail sales invoices of $1,000 or less delivered in Massachusetts to state residents are subject to 6.25% state sales tax.
Invoices above $1,000 are tax free.
Sales Shipped to All Other States
For the last 20 years or so, CRO has been selling to customers around the country essentially on a tax-free basis.
With the exception of the invoices to customers in Massachusetts noted above, ALL of our retail invoices shipped from here to all other customers in the United States have been tax-free.
Unfortunately, those halcyon tax-free days have come to an end based on the recent Supreme Court decision.
Effective January 1, 2019, all coin sellers (including CRO) are now required by law to collect sales tax on all retail numismatic sales to customers in states that do not have a full numismatic and bullion tax exemption.
What does that mean?
If you live in Massachusetts you will see no change. If you live in one of the following 17 non-exempt states or the District of Columbia, your interstate retail numismatic purchases (be they internet orders, phone orders or any other method which involves a transaction across state lines) are now subject to tax at the following rates:
|California||9% on Invoices of $1,499 or Less|
|Hawaii||4% After 100K in Sales or 200 Transactions Annually|
|Kansas||6.5% on Sales Prior to July 1, 2019, Exempt Thereafter|
|Kentucky||6% After 100K or 200 Transactions Annually|
|Maine||5.5% After 100K or 200 Transactions Annually|
|Minnesota||6.875% After 10 Sales Totaling 100K or More Annually|
|Mississippi||7% After Sales Totaling 250K Annually|
|Nevada||6.85% After 100K in Sales or 200 Transactions Annually|
|New Jersey||7% After 100K in Sales or 200 Transactions Annually|
|New York||7% to 8.75% Depending on Address|
|Ohio||5.75% After 500K in Sales|
|Tennessee||7% After 500K in Sales|
|Vermont||6% After 100K in Sales or 200 Transactions Annually|
|Wisconsin||5% After 100K in Sales or 200 Transactions Annually|
This means that tax at the relevant rate will be applied to the total value of your purchases from us and added to each invoice.
If you are NOT a resident of Massachusetts, and you do NOT live in one of the states specifically listed in the table above, congratulations! All of your coin purchases from CRO will continue to be tax free.
Again, this is not our decision – this is the new law and applies to all of the coin dealers and auction houses in our industry, wherever they are based.
If anyone has any questions about these new tax laws please contact us by phone or email.