Coingate fallout letter: have it without the buggy link this time.
I got the letter from the Blade's website here, figured I would
just post it rather than a link this time since there seems to be some possible tech problems with that method: I applaud The Blade for its coverage of "Coingate." However, it appears that all Ohio coin dealers will have to bear a "trickle-down" effect from this controversy. Rep. Peter Ujvagi seeks to rescind a 16-year-old sales tax exemption on investment coins and bullion. This action will place an unwarranted hardship on all Ohio coin dealers and the coin-buying public, hobbyist, collector, or investor. My customers, unaccustomed to paying this sales tax, will make their purchases tax-free on ebay or tax free in nearby Michigan or Indiana. This loss of customers will also affect nearby businesses who often patronize other area businesses, restaurants, specialty shops, grocery stores, gas stations, etc. The newly remodeled Westfield Mall also attracts many ladies who shop while their husbands spend time in the coin shop. All of these purchases are taxable. Can the Toledo area with its depressed economy really afford this loss of revenue? It is our hope that the abuses of "Coingate" will not affect those of us in the coin business doing an honest, fair, and ethical job. Mr. Ujvagi, in his zeal to promote his own political agenda, has unfairly targeted all Ohio coin dealers. His misdirected wrath and short-sightedness will force Ohioans to pay more sales tax. Their unwillingness to do this will result in a loss of business for all Ohio coin dealers. If passage occurs we will have to restructure our business practices regarding the way we buy and sell. We currently appraise and liquidate estates for Lucas County Probate Court and also heirs desiring to liquidate coin collections. It would be hard to justify the purchase of these collections if I lose potential buyers/customers to out-of-state coin dealers. Mr. Ujvagi's HB275 stinks of political maneuvering. CLYDE ENGLEHARDT President/Owner Toledo Coin Exchange Sylvania |
Thank you for the post.
TD |
Mr Engleharts letter is Intelligent and Insightful, meaning it wil be
lost on the Ohio politicians! |
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