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user_7361's Blog

12 Mar 2015

Taxing Investment Metal Bullion and Investment Coins in Pennsylvania

Coins-United States | user_7361

I just wanted to let everyone know what is cooking up in the state of Pennsylvania. Our new Govenor Tom Wolf is trying to help fund education and also help the homeowner by reducing the property tax. Sounds good, right? Wrong. So one of the things he wants to do is increase the sales tax from 6% to 6.6% to help out. To our current sales taxable items he wants to add more items to the list to be taxed. So I did my research and homework and found the new items he plans on taxing along with his sale tax increase. He now wants to start adding sales tax when purchasing investment metal bullion and investment coins. We went all this time without sale tax on these items. In talking with a local coin dealer, who lives in the neighboring state of Maryland, he came to the state of Pennsylvania because we don't charge the sales tax on these items. Right now the sale tax hike is only proposed and will need to pass in order for all this to take place. I hate to see a hobby of collecting investment coins and investment bullion now be taxed. I'm concerned this will drive many people away from the hobby.

Comments

user_7180

Level 5

Government just does not understand reality. Maybe if they had to live on less tax payer money and pay for their own health insurance, etc they would better relate to the people they claim to work for.

Peter

Level 4

It will never happen. Because they can not tax on money.

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