Last year the numismatic community stood united in helping defeat House Bill 206 in the Maryland General Assembly, which would have repealed the Sales Tax Exemption for Precious Metal Bullion and Coins.
We are grateful for the way the coin community came together to help defeat the bill and save jobs and economic opportunity in Maryland.
But now the battle is joined once more.
The Governor of Maryland has proposed, in his FY 2013 Budget, to repeal several sales tax exemptions and credits currently provided under Maryland’s Tax Code.
To determine with greater clarity the potential positions of both the Governor and the Maryland General Assembly regarding tax code initiatives, we have once again engaged this Session, The Rasmussen Group to advocate on our behalf. Aggressive advocacy efforts are already underway and our case to retain the sales and use tax exemption is now being discussed with key Legislators.
We are seeking again the numismatic community’s support.
We must be vigilant and make sure our voices are heard in Annapolis with strength and clarity.
Here is how numismatic community can assist us in defeating this proposal:
Contact your Legislator by phone and expect to speak to a staff member. (Here’s the Legislators’ roster: http://mlis.state.md.us/Other/Roster/Roster.htm.) Keep the call brief and simply state your opposition to that provision within the Governor’s budget that would repeal the sales tax exemption.
If you prefer to send an email, keep it brief, as well. A single paragraph can be most effective. Identify yourself as a Maryland dealer, a dealer in general, a coin collector from Maryland, or a collector from another state.
Consider the following talking points:
· The sales tax exemption has been critically important to the success of the three major shows conducted at the Convention Center in Baltimore each year over the past 20 years.
· Not only would Maryland lose the sales tax on sales under $1,000, but the City of Baltimore would also lose significant revenue from the loss of the hotel tax on thousands of hotel-room nights per year as well as the retail and restaurant spending in Baltimore generated by the show participants.
· Respectfully request that legislators oppose any budget provisions or legislation to repeal the sales tax exemption for precious metal bullion and coins.
Generate additional contacts to Legislators by helping us spread the word to their friends and associates who would be negatively impacted by such a repeal.
We will continue to keep the numismatic community abreast of developments with regard to this important matter, and we are grateful for their continued support.
Contact: David Crenshaw
(404) 214-4373
[email protected]
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One of the considerations when planning a major coins show is the tax issue as related to numismatic items and bullion. Locations that have favorable tax laws have a more favorable chance of having coins shows and the related hotel, food, etc revenue produced from those attending a coin show.