Ohio sales tax for coinage

[review_quality_notes]

Ohio  residents no longer have to pay sales tax on coinage. eBay, I think hasn't got the message. How do they get it?

[donsdetour]

I think you will find that only that original value of said coin is nontaxable, such as a penny sold for a penny...

If it goes for 2 cents you owe tax on it.

These laws are made to not have to tax making change....That is the idea behind all such laws: whether enforced that way....well...

Coin dealers may find them self owing a lost if one of these states decide to go after there owed tax...

[7606dennis]

If the State of Ohio has changed their tax code making such transactions non-taxable, that state's department of revenue should have officially notified eBay of that change.  It is doubtful that eBay would accept anything but official notification before making any changes.  I would recommend contacting Ohio's sales tax authority and advise them of eBay's failure in this regard and let them take the appropriate action under their laws & regulations officially.

[review_quality_notes]

You are 100% correct; however, I do not wish to entangle myself in a glut of misfits. I'll wait for someone else to take the lead on this one. I don't think the other answer, person knows what he/she, or it are talking about.

[review_quality_notes]

"COLUMBUS, OH / ACCESSWIRE / July 6, 2021 / Last week Ohio officially ended it's sales taxation of gold, silver, platinum, and palladium bullion and coins, enabling the Buckeye State to join Arkansas as the two states having canceled taxation of the monetary metals so far this year."

That means if you sell a coin for a million dollars, no tax. eBay should be up on the tax code as I always get complaining emails form them about new laws.

[mudshark61369]

@review_quality_notes ,

There is another topic on the same subject on this board.  The person who wrote it said the tax was removed from items containing more than 50% precious metals.  If the metal content was not given in the item title ebay's bots may not have picked up on it. If the category chosen by the seller wasn't coins or bullion, that too may have caused the sale to be taxed.  The law may have been enacted in July, but not reported to ebay or other 3rd party online retail sites yet or with time enough to make the needed changes.

[review_quality_notes]

From the Ohio Revised Code;

Section 5739.02 | Levy of sales tax - purpose - rate - exemptions.

(57) Sales of investment metal bullion and investment coins. "Investment metal bullion" means any bullion described in section 408(m)(3)(B) of the Internal Revenue Code, regardless of whether that bullion is in the physical possession of a trustee. "Investment coin" means any coin composed primarily of gold, silver, platinum, or palladium.

[mudshark61369]

@review_quality_notes ,

That is useful information, but does not necessarily mean that Ohio's law is written that way.  Again, if Ohio waited until after the change in their state sales tax law exempting coins, precious metals and bullion from being taxed ,the reprogramming may still may be being worked on.    If your location is in another state, the tax exemption would not apply to you. 

[veterangoldandsilverguy]

https://tax.ohio.gov/wps/portal/gov/tax/help-center/faqs/sales-and-use-applying-the-tax-what-is-and-...

Okay eBay here it is no sales tax on precious metals products depending on their purity. Silver eagles, gold Eagles are exempt. They can't charge sales tax on this.

[7606dennis]

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@veterangoldandsilverguy wrote:

https://tax.ohio.gov/wps/portal/gov/tax/help-center/faqs/sales-and-use-applying-the-tax-what-is-and-...

Okay eBay here it is no sales tax on precious metals products depending on their purity. Silver eagles, gold Eagles are exempt. They can't charge sales tax on this.

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It is still the state of Ohio's place to notify merchants of changes to their tax codes not someone posting a link on a member to member discussion board.

[veterangoldandsilverguy · Accepted solution]

If you can show a company that they're charging sales tax when they're not supposed to, they don't need to be notified by an authority, all they need to do is read the law. eBay has a large enough staff that somebody can see that there was an oversight. Anyways the buyer of the coins needs to notify eBay so they can make invoice adjustments, at least unill they figure this out.

[7606dennis]

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@veterangoldandsilverguy wrote:

If you can show a company that they're charging sales tax when they're not supposed to, they don't need to be notified by an authority, all they need to do is read the law. eBay has a large enough staff that somebody can see that there was an oversight. Anyways the buyer of the coins needs to notify eBay so they can make invoice adjustments, at least unill they figure this out.

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Perhaps you should contact eBay rather than post to a member to member discussion board.  However, owing to the vast amount of misinformation posted on the internet, I would probably think that official notification by the state would be the normal method of handling such things.  

[donsdetour]

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@review_quality_notes wrote:

Ohio  residents no longer have to pay sales tax on coinage. eBay, I think hasn't got the message. How do they get it?

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Complain to your state treasury department and law makers: eBay is just going to do what little they have to do...

The boards and the complains about this will do nothing but let your folks vent.

[veterangoldandsilverguy]

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@7606dennis wrote:

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@veterangoldandsilverguy wrote:

If you can show a company that they're charging sales tax when they're not supposed to, they don't need to be notified by an authority, all they need to do is read the law. eBay has a large enough staff that somebody can see that there was an oversight. Anyways the buyer of the coins needs to notify eBay so they can make invoice adjustments, at least unill they figure this out.

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Perhaps you should contact eBay rather than post to a member to member discussion board.  However, owing to the vast amount of misinformation posted on the internet, I would probably think that official notification by the state would be the normal method of handling such things.  

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It won't matter what I do, my buyer was in Ohio, I'm in Arizona, he didn't want to pay sales tax, he contacted eBay, all the while I'm waiting to get paid on items, I ended up just relisting the items and selling them for an even high cost because the guy backed out when eBay wouldn't remove the sales tax.

[linda7591]

Hi Coin Buyers,  Some of you have reported that you have complained to eBay about this Ohio Sales Tax issue.  Can someone please provide me an email where I can send a complaint?  Thanks.