ICTA - Your Industry Watchdog | News
Halstead Bead Challenges Louisiana Sales Tax System in Lawsuit

Litigation could open the door for a federal legislative response against Wayfair overreach laws in many states.

For more than two years, several groups opposed to interstate sales tax laws have been looking for an opportunity to challenge the overreach seen in some states since the Supreme Court's Wayfair decision in 2018. On Monday, November 15, 2021, Arizona company Halstead Bead, Inc., filed an action in US District Court for the Eastern District of Louisiana, asking the court to declare Louisiana's approach to collecting sales taxes a violation of federal constitutional protections against an undue burden on interstate commerce. Louisiana currently uses more than 50 different governmental entities to collect sales tax, requiring out-of-state businesses to file reports in each parish where sales are made and creating a compliance nightmare. Unlike most aggrieved parties, Halstead has the financial support of several groups, including the National Taxpayers Union Foundation, Goldwater Institute, and Pelican Institute for Public Policy. This litigation could open the door for a federal legislative response against Wayfair overreach laws in many states.

Read more...
 
Support Campaigns to Protect Your Business from State Greed

In light of the Supreme Court’s South Dakota v. Wayfair decision, what would it mean for your business to be free of the burden of collecting sales tax on the coins, currency, and precious-metals bullion you sell?

Even if your business is not located in one of the states below, if any of your customers—be they wholesale or retail—are located in any of these states, you may be required to collect and file state taxes on their behalf.

Read more...
 
Ohio Budget Bill Reinstates Investment Bullion and Coin Sales-Tax Exemption
Friday, July 02, 2021 09:00 AM

The Ohio 2022–2023 budget reinstates the sales-tax exemption for the purchases of investment metal bullion and investment coins that was eliminated in the previous budget. Two bills, House Bill 268 and House Bill 110, had the possibility of reinstating the exemption, with the budget bill, HB110, succeeding.

Read more...
 
Coin and Bullion Dealers, Tell Congress to Support Changes to AML Act of 2020
Wednesday, June 09, 2021 09:03 AM

The Anti-Money Laundering Act of 2020 became law on January 1, 2021, and Congress is currently developing many specific regulations related to the act. Several components of the new law that are still to be finalized will directly impact the numismatic and bullion industry, including:

Read more...
 
Arkansas Governor Hutchinson Signs Bill Providing Sales-Tax Exemption
Monday, May 03, 2021 10:30 AM

On May 3, 2021, Arkansas governor Asa Hutchinson signed into law Senate Bill 336, creating an exemption from the sales and use tax for coins, currency, and bullion. “The bill’s primary sponsor, Senator Mark Johnson, along with its House sponsor, Representative Delia Haak, championed the bill through the legislature,” said Dan Hedges (Auro Industries, Little Rock, Arkansas). “Arkansas dealers, collectors, and investors cannot thank them enough for their dedication.”

Read more...
 
<< first < Prev 1 2 3 4 5 6 7 8 9 10 Next > last >>

Page 1 of 25