Thread: Goldin Vault
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  #22  
Old 07-27-2021, 10:49 AM
morris_14226 morris_14226 is offline
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It’s dependent on were Goldin ships the card. If they ship it to a state without state sales tax, (Texas say) they don’t have to collect state sales tax. If they do ship to a state with sales tax (NY say) they have to collect sales tax. My guess is Goldin’s physical vault is in a state with zero sales tax so when they ship it there they don’t collect sales tax. So when a vault holder sells the card, he just pays tax once on the proceeds of the sale.

You could do the same thing and get an address in a no tax state(Texas) and have the card shipped there.

Again-the issue is how you account for the cash on the sale. In NYS, they specifically ask you if you’ve earned any money outside the state. If you did-you have to claim it.


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