Supreme Court Ruling Alarming

[dena]

Numismatists should be worried about how the hobby will be affected by a labyrinth of tax rules.

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[World Colonial]

The impact is no different than auction firm increases in buyer's fees.  Depending upon the specific requirements, buyers may need to adjust how much they pay to compensate for any sales or use tax.

As with auction buyer's fees, in theory it should come mostly at the expense of the seller.  In practice, it only will in some proportion. 

[bsshog40]

Yea this ruling is trying to make all online sellers start charging taxes. Some states are complaining they are losing billions of lost sales tax dollars. Just another way for the gov't to get into peoples pockets for more tax dollars. I'm sure large sales companies are familiar with taxing items but not sure how this is gonna affect the little guy that just sells items here and there.  

[ldhair]

This is going to be a real pain for sellers. Lots of record keeping and each state will be creating new laws. It's going to be a mess. 

[Just Bob]

Maybe I need to buy shares of Intuit. Looks like there will be lots of copies of QuickBooks that will need to be upgraded.

[KarenHolcomb]

Idk about the SC Ruling but about the new tax deal I do, but I was reading that Scots Auction site and it was saying that when buying and selling  'precious metals' that it can be completely  anonymous. Are coins considered precious metals? It does say that-I'll attach a screenshot and maybe y'all can clarify it for me?

[Conder101]

Reporting who sold to a dealer is one thing, the collecting and remitting the sales taxes is completely different.