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$10,000 Cash Rules, And Taxes Related To Gains/losses


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Idaho is tax free regardless of the amount or "brand". Oregon should also be since they have no sales tax. Alaska would be tax free with the possibility of a burro tax, which should not be confused with a burito tax. (actually that's a borough....think county). Knowing Washington's taxing philosophy, they've probably discovered a way to tax it at a 100% rate. :lol:

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I'll weigh in on this one for Nebraska. If you buy coins in the state, they assess sales tax on the sale. This leads one to buy bullion in other states due to the lack of sales tax charged.

 

I did some research and concluded that if I'm buying bullion from another state, I technically owe use tax on those purchases to the State of Nebraska. Use tax is a tax that basically covers the gaps in sales tax. It is a self-assessed tax.

 

As an example of how inclusive use tax can be, this next link is a link to the instructions to the Nebraska sales & use tax form.

 

I guess it is summed up in the example in the instructions where an individual is buying a coat from by mail-order and is supposed to assess themself for tax.

 

Nebraska wants all of my money

 

I guess that is how extensive overtaxation has become. I will say that it is a rare occurrence whereby somebody actually files this return.

 

I don't know if every state has this type of tax, but I'm positive it is a very common tax provision.

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