Dealer Tax Information
The Following is a letter for all dealers participating in Phoenix about sales tax.
November 29, 2007
Dear Phoenix Bourse Participant:
With the upcoming ANA National Money Show™ scheduled for Phoenix, Arizona, there may be sales and other tax
ramifications for your participation. We are pleased to inform you that Arizona protects your coin and bullion sales from sales taxes, however if you
will be dealing in "other forms of money" as defined in 21. below, you will need to apply for a Transaction Privilege Tax (TPT) license and
remit the associated fee of $12.00 to the Arizona Department of Revenue.
Arizona Department of Revenue Title 42 (42-5061)
provides for exemption from sales taxes as applies to precious metal bullion
and monetized bullion"
"The tax imposed on the retail classification does not apply to the gross proceeds of
sales or gross income from:
21. The sale of precious metal bullion and monetized bullion to the ultimate consumer,
but the sale of coins or other forms of money for manufacture into jewelry or works of art is subject to the tax. For the purposes of this
paragraph:
(a) "Monetized bullion" means coins and other forms of money which are manufactured from
gold, silver or other metals and which have been or are used as a medium of exchange in this or another state, the United States or a foreign
nation.
(b) "Precious metal bullion" means precious metal, including gold, silver, platinum,
rhodium and palladium, which has been smelted or refined so that its value depends on its contents and not on its form.
The Transaction Privilege Tax (TPT) license registration form, should your sales apply, can be found online at http://www.azdor.gov/ADOR_Forms/70-79/74-4002_fillable.pdf or
mailed/faxed to you on request from the ANA Meeting Services office. Call 719-482-9857 to receive this TPT form. There is a $12.00 fee for this
registration.
While the ANA cannot provide legal, accounting or other advice with regard to any of these issues, we would like to
bring this to your attention so that you can address it, if necessary, prior to the convention. Should you need assistance with any tax issues for the
State of Arizona, please contact your personal tax or legal advisor. You may also contact the Arizona Department of Revenue Sales Tax Office at
1-602-542-4576 for direct help with this particular license registration.
Tel: 719-632-2646 Fax: 719-634-4085 www.money.org
|
