Yesterday I went to the Chinese store to pick up a 1 ounce gold bar. The price of gold is at $925 per ounce and I was prepared to pay the $1450 in comp points for the bar, but when she gave me a new total for the price of $1537, I was shocked. I guess I shouldn't have been, but the extra was for a surchage. She said all the stores in the casino charge this 6% surcharge, I said no, it is state tax and on gold bullion there is no state tax. She said it is not a state tax, but what the casino gets on each sale they make. Is this right?
6% surcharge
I have a few receipts from different stores up there, and they all say total tax (@ 6%), so I think she was hosing you, if in fact there is not supposed to be tax on bullion. I was in that store, and the salespeople struck me a pretty ditzy, so they might not have known about the no tax. MAYBE!
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Yesterday I went to the Chinese store to pick up a 1 ounce gold bar. The price of gold is at $925 per ounce and I was prepared to pay the $1450 in comp points for the bar, but when she gave me a new total for the price of $1537, I was shocked. I guess I shouldn't have been, but the extra was for a surchage. She said all the stores in the casino charge this 6% surcharge, I said no, it is state tax and on gold bullion there is no state tax. She said it is not a state tax, but what the casino gets on each sale they make. Is this right?
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[Non-text portions of this message have been removed]
Just for the heck of it, I did some further research on the CT government website and found:
http://www.cga.ct.gov/2005/pub/Chap219.htm#Sec12-412.htm
Sec. 12-412. Exemptions.Taxes imposed by this chapter shall not apply to the
gross receipts from the sale of and the storage, use or other consumption in this state
with respect to the following items:
(45) Gold or silver bullion, legal tender of any nation, rare and antique coins.Sales of and the storage or use of rare or antique coins, gold or silver bullion and gold
or silver legal tender of any nation, traded according to its value as precious metal,
provided such exemption shall not be applicable with respect to any such sale, storage
or use in which the total value of such bullion or legal tender sold by the retailer is less
than one thousand dollars.
So, your $1450 purchase should NOT have had the sales tax imposed, just as you stated. Now what recourse you have is another question. Perhaps you could inquire with your host, or at the Mohegan Shops business office. Good luck - maybe you can get your $87 back.
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From: John <treasureman@snet.net>
To: vpFREE_NewEngland@yahoogroups.com
Sent: Wednesday, July 15, 2009 8:45:18 AM
Subject: [vpFREE_NewEngland] 6% surcharge
Yesterday I went to the Chinese store to pick up a 1 ounce gold bar. The price of gold is at $925 per ounce and I was prepared to pay the $1450 in comp points for the bar, but when she gave me a new total for the price of $1537, I was shocked. I guess I shouldn't have been, but the extra was for a surchage. She said all the stores in the casino charge this 6% surcharge, I said no, it is state tax and on gold bullion there is no state tax. She said it is not a state tax, but what the casino gets on each sale they make. Is this right?
[Non-text portions of this message have been removed]
good job
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To: vpFREE_NewEngland@yahoogroups.com
From: guruperf@yahoo.com
Date: Thu, 16 Jul 2009 12:58:34 -0700
Subject: Re: [vpFREE_NewEngland] 6% surcharge
Just for the heck of it, I did some further research on the CT government website and found:
http://www.cga.ct.gov/2005/pub/Chap219.htm#Sec12-412.htm
Sec. 12-412. Exemptions.Taxes imposed by this chapter shall not apply to the
gross receipts from the sale of and the storage, use or other consumption in this state
with respect to the following items:
(45) Gold or silver bullion, legal tender of any nation, rare and antique coins.Sales of and the storage or use of rare or antique coins, gold or silver bullion and gold
or silver legal tender of any nation, traded according to its value as precious metal,
provided such exemption shall not be applicable with respect to any such sale, storage
or use in which the total value of such bullion or legal tender sold by the retailer is less
than one thousand dollars.
So, your $1450 purchase should NOT have had the sales tax imposed, just as you stated. Now what recourse you have is another question. Perhaps you could inquire with your host, or at the Mohegan Shops business office. Good luck - maybe you can get your $87 back.
________________________________
From: John <treasureman@snet.net>
To: vpFREE_NewEngland@yahoogroups.com
Sent: Wednesday, July 15, 2009 8:45:18 AM
Subject: [vpFREE_NewEngland] 6% surcharge
Yesterday I went to the Chinese store to pick up a 1 ounce gold bar. The price of gold is at $925 per ounce and I was prepared to pay the $1450 in comp points for the bar, but when she gave me a new total for the price of $1537, I was shocked. I guess I shouldn't have been, but the extra was for a surchage. She said all the stores in the casino charge this 6% surcharge, I said no, it is state tax and on gold bullion there is no state tax. She said it is not a state tax, but what the casino gets on each sale they make. Is this right?
[Non-text portions of this message have been removed]
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[Non-text portions of this message have been removed]
Since the casino is on an Indian reservation, do the need to follow the state tax rules? Maybe they just set their own "tax" equal to the state tax, but it might not be the same thing.
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--- In vpFREE_NewEngland@yahoogroups.com, Guru Perf <guruperf@...> wrote:
So, your $1450 purchase should NOT have had the sales tax imposed, just as you stated. Now what recourse you have is another question. Perhaps you could inquire with your host, or at the Mohegan Shops business office. Good luck - maybe you can get your $87 back.