Silver Gold Sales Tax by US States | ICTA, Jimmy Hayes

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Podcast – In 2019, if you are a retail bullion dealer or conduit for any online bullion sales of any sort, you’d better be collecting applicable state sales taxes now or save a war chest perhaps risking the moment some state representatives come knocking at your door asking for their cut of their state’s sales revenue.

US Supreme Court Ruling summer 2018 that brought this about:

Some additional info on bullion and other item state sales taxes ongoing:

Of course, this adds not just complexity but costs for anyone seeking to comply and not break any of the seemingly exponentially growing laws of the land.

Moving onwards to our guest this week.

His name is Mr. Jimmy Hayes, he recently became the Executive Director of the Industry Council for Tangible Assets.

Often known by its abbreviation IC-TA, the Industry Council for Tangible Assets (ICTA) is a 501(c)(6) nonprofit association dedicated to the rare coins, paper money, and precious metals industry now for over 30 years.

ITCA’s website is here:

ICTA exists to promote and safeguard the interests of its members, serving as the industry watchdog to maintain an appropriate and favorable legislative and regulatory climate in the U.S.A. and all 50 states. The association provides a medium through which its members may confer, consult, cooperate with, and educate government and its agencies to achieve solutions to problems affecting their businesses.

The following discussion is between myself and Jimmy Hayes the current Executive Director of ICTA. As you will be able to tell quite quickly, Mr. Hayes is an experienced and sharp long time practicing financial lawyer, a former 10 year US Congressman, and co-author of the current Louisiana banking code.

Jimmy was gracious in taking time to give us his thoughts on this state tax law matter, and so here is our discussion from yesterday.

FULL SHOW Notes & Informational Backlinks:
link here

#GoldSalesTax #SilverSaleTax #OnlineSalesTax

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