📄 As the situation in Kentucky continues to evolve, we've published a whitepaper 📑 with our analysis of the current legislation and recommendations for dealers. Dealer-members can access the paper by logging into our website and navigating to Resources > Knowledgebase > States > Files > KY - Navigating Kentucky’s Sales-Tax Exemption Challenges for Dealers. 🌐 #Coins #Taxes #Kentucky #News

Each quarter, we highlight a different membership benefit in our newsletter. This quarter, we’d like to point out the 'Sales-Tax Status & Economic Nexus Requirements by State' quick-reference guide. 📋 Available to dealer-members only, it shows the sales-tax exemption status (complete, partial, or nonexistent exemption) of each state on in-state retail sales of coins, currency, and bullion. 💰 This guide also shows each state’s post-Wayfair economic nexus requirements. Dealer-members may download this resource from our website, ncbassoc.org, via the main menu (sign-in required): Resources > Knowledgebase > Sales and Use Taxes > Files. 🌐 #Info #Reference #Coins #Taxes

📚 We offer multiple information kits to help coin dealers ensure they’re following the law. 📚 These are available for anyone to purchase, but all NCBA members with a copper membership or higher get 50% off! A popular kit is our Consumer Information Kit; it has been produced in response to many questions from consumers regarding what products and circumstances require transactions to be reported to the U.S. Department of the Treasury/IRS. #Info #Reference #Coins #Taxes

📢 If you’ve been following us for a while, you’ve seen the posts we’ve made highlighting the sales tax situation in individual states. 📢 We’ve run through all 50 states, so it’s time for a new series! 🎉 Starting tomorrow, we’ll be going state-by-state to talk about the economic nexus requirements across the country. 🌎 But first things first: what’s the economic nexus? Economic nexus is a rule that requires businesses to collect sales tax in a state once they reach a certain amount of sales or transactions there, even if they don't have a physical presence. 🏛️ This was established by the 2018 U.S. Supreme Court decision in South Dakota v. Wayfair, expanding states' abilities to collect sales taxes from online and remote sales. 🛒

📜 Michigan has a bit of an odd situation hidden in the fine print. Michigan still taxes paper money, but the only other numismatic or bullion item subject to state sales tax is palladium bars. When the exemption went into effect, palladium bars were not included because they were rarely sold. Palladium coins, however, are tax-exempt, along with all other bullion (which needs to be at least 90% pure) and coins. 🪙💰 #Coins #Taxes #Michigan #Info

📢 In Minnesota, only pure bullion bars and rounds are tax-free; all coins and paper money are subject to a 9% sales tax. If you want this to change, join us! 🤝 Become a member of the Concerned Collectors Coalition, either for free or as a paid coin dealer. More members mean a better chance to include coins in the tax exemption! 💰✨ #Coins #Taxes #Minnesota #Info

In Alabama, US coins and currency are exempt from sales tax. Gold, silver, platinum, and palladium bullion in the form of bars, ingots, or coins, meeting specified purity and market-dependency criteria, is also exempt from sales tax. 🪙✨ For more details, check out the Sales-Tax Status & Economic Nexus Requirements by State resource available to NCBA members. #Coins #Taxes #Alabama #Info

In Louisiana, platinum, gold, or silver bullion valued solely upon its precious metal content—whether in coin or ingot form—numismatic coins with a sales price of $1,000 or less, and numismatic coins sold at national, statewide, or multi-parish numismatic trade shows are sales tax exempt. However, paper money is still subject to the state sales tax of 4.45%. 💰✨ #Coins #Taxes #Louisiana #Info

In North Dakota, all legal tender coins and paper money are exempt 💰. The only bullion that is exempt is that with a minimum purity of .999 ⚖️. Therefore, platinum bars of .995 purity would not qualify ❌. This isn’t a criterion we see in many other states! #Coins #Taxes #NorthDakota #Info

Arizona’s taxation policies are pretty friendly for the coin and bullion communities. 🌵 With the exception of paper money, which is subject to the state sales tax of 5.6%, collector coins, bullion coins, and bullion are state tax-exempt. 💰📜 #Coins #Taxes #Arizona #Info