PWCC vault...explain

[BobC]

Originally Posted by Peter_Spaeth

You still owe the tax, unless you choose tax evasion. It's an issue for YOU, not PWCC. Did you really think it was that easy for you to evade taxes? Your state isn't that dumb.

BioCRN,

What Peter is saying is true. My prior post was to spell out for you the story behind the issue and how it works and is likely perceived by various states. He's just more succinct and direct than I am. LOL I wanted you to understand the issues behind this a little better, and so you realize these "vaults" are, as I mentioned in an earlier post, often times taking advantage of human greed and laziness to pull in more people. And they aren't necessarily concerned with what they are proposing being 100% legal because technically, as Peter alluded to, the issue is mostly on you and not with the "vault" operator.

See, the sales tax is to either be collected and remitted by the seller of something, or paid by the buyer as what is then termed "use tax" if the seller was not otherwise required to collect and remit the sales tax. But if you buy something from say an AH or on Ebay, and have it sent to a "vault", that "vault" operator is not the buyer or the seller, and so really has no responsible for collecting or remitting sales tax, whatsoever. And if you subsequently ask them to send you your cards, that isn't a sale either, so they have no sales tax liability on just sending you your own cards. Now you may ask, "Yeah, but what if I purchased the item through PWCC and then had them put it into their "vault" for me, aren't they then the seller also, and possibly potentially liable for collecting and remitting the sales tax as such?" That might be true if these "vaults" are not set up as entirely different and separate entities from PWCC and Goldin's sales/auction entities. And trust me, they are going to be separate legal entities for liability and other protections, just like this sales tax issues and question. That is why I suggested you ask the "vault" operator you are using what they are/will do to protect you should the sales tax people come looking and calling. Otherwise, maybe think about at least leaving your cards in the "vault" a little longer before taking them out and home with you, and come up with and have ready a reasonable and believable story as to why you then suddenly did take your cards out of the "vault", aside from "So I could get out of paying sales taxes!".