How Will the Repeal Affect You?
Sales Tax Will Drive Away Your Customers. If your customers are given the choice between paying hefty surcharges or buying tax-free over the Internet, which option will they choose?
Consider that $96.80 would be added to the price of a $1,100 gold coin. Will your customers stand for that?
You Will Pay Thousands Each Year in New B&O Taxes
Owning and operating a business in the state of Washington is difficult enough. B&O taxes on your gross sales will siphon thousands each year from your bottom line.
Consider that on gross receipts of $250,000, you would pay over $1,200. And what do you get in return for your hard-earned money?
Your Profit Margin Will Shrink
On average, profit on bullion sales is 1-2%. Repeal of RCW 82.04.062 would expropriate 25-30% from this already small amount, practically eliminating your profit margin.
You May Have to Relocate...or Close!
It’s inevitable. If the sales and B&O tax exemption is repealed, most bullion and coin dealers will be forced to relocate to other states, or even close their doors permanently. Don’t let this happen to you!
For Consumersjoin the wcba today! by contacting Erin Robinson at 253.217.7301
Phone: 253.217.7301
Washington Coin and Bullion Association
P.O. Box 11089, Tacoma, WA. 98411