West Virginia Eliminates Sales Tax on Guns/Ammo

[AuEagle]

Follow the leader Tennessee!!!

New West Virginia Law Removes Sales Tax On Guns, Ammo – Bearing Arms

[brat]

I wish Tennessee would, but I don't see them giving up any money anytime soon. They even tax online sales from most places.

Once they get their grubby little hands on your money, they hold on for dear life ( the rest of your life).

[Raoul]

59 minutes ago, brat said:

I wish Tennessee would, but I don't see them giving up any money anytime soon. They even tax online sales from most places.

Once they get their grubby little hands on your money, they hold on for dear life ( the rest of your life).

Don't worry, as soon as we get a state income tax the sales tax rate will be reduced.

[Moped]

36 minutes ago, Raoul said:

Don't worry, as soon as we get a state income tax the sales tax rate will be reduced.

LMAO!!!  That's funny right here!!!   Cause you know dang good and well that they aren't going to reduce taxes, like ever!!! 

[btq96r]

Be very wary of treating guns and ammo differently than any other general items in the greater sphere of commerce.  Eliminating the sales tax is one of those feel good things, but it sets a precedent that guns and ammo are not general commerce items, and that restrictions on their commercial sale are allowable.  Better to keep them blended into the mix.

[Chucktshoes]

4 hours ago, btq96r said:

Be very wary of treating guns and ammo differently than any other general items in the greater sphere of commerce.  Eliminating the sales tax is one of those feel good things, but it sets a precedent that guns and ammo are not general commerce items, and that restrictions on their commercial sale are allowable.  Better to keep them blended into the mix.

[QuackerSmacker]

On 7/5/2021 at 8:11 AM, AuEagle said:

Follow the leader Tennessee!!!

New West Virginia Law Removes Sales Tax On Guns, Ammo – Bearing Arms

And while we're at it, remove the sales tax on gold and silver!!!!  Can't believe I gotta pay sales tax on coins bought even on the Internet.

[No_0ne]

21 minutes ago, QuackerSmacker said:

And while we're at it, remove the sales tax on gold and silver!!!!  Can't believe I gotta pay sales tax on coins bought even on the Internet.

As others have pointed out, Tennessee is unlikely to remove sales tax on anything, especially considering that sales and use taxes make up the bulk of revenues for the state.  Just out of curiosity, why is sales (or use) tax on commodities like gold and silver any different from anything else bought?

[QuackerSmacker]

Well, for one thing, gains on gold and silver are subject to federal income tax on gains, and state income tax on gains (in states which have income tax.)  

On what other assets do you pay a sales tax when bought, and an income tax on gains when sold?   

Should we charge sales tax when you buy a stock, or bond, or mutual fund?   

 

For more on this issue, including as it relates to TN, see Developments in Coin, Bullion Sales Tax Exemptions - Numismatic News

Edited July 7, 2021 by QuackerSmacker

[Grunt67]

On 7/5/2021 at 11:21 AM, brat said:

I wish Tennessee would, but I don't see them giving up any money anytime soon. They even tax online sales from most places.

Once they get their grubby little hands on your money, they hold on for dear life ( the rest of your life).

A smarter move would remove sales tax off food.