Sales Tax on Coins and Precious Metals in Tenn? (rent, hotels)

[MrTudo]

Does anyone know if the state of Tenn taxes Rare Coins and/or Precious metals ?

[hiknapster]

This might help. I can't find anything specifically relating to coins and precious metals.

Sales and Use Tax (http://www.tennessee.gov/revenue/tntaxes/salesanduse.htm - broken link)

[MrTudo]

It's not good.

Once upon a time we had a lowlife governernor, lawton chiles who passed a bill that did the same thing ( taxed rare coins and precious metals ). More than 75% of the coin shops and coin businesses either left the state or went out of business.

Along came a new governor years later who repealed that tax. Now, Fla has become THE biggest state for the hobby and the FUN ( Florida United Numismatists ) convention in Orlando, every 1st week of January sees more than 25,000 out of state people who come in, rent hotels, and bring literally billions of dollars into the state by way of coin business. The show has gotten so big in fact that there's now a summer FUN to compliment the big one in January and hundreds of smaller local shows around the state.