Coalition For Equitable Regulation And Taxation

FORTY STATES HAVE PASSED LEGISLATION EXEMPTING OR EXCLUSING PRECIOUS METALS SALES FROM STATE SALES TAX COLLECTION RESULTING FROM MATERIALS PROVIDED TO LOCAL, STATE, OR FEDERAL INTERESTS ILLUSTRATING THE NEGATIVE IMPACT OF SUCH LEGISLATION SINCE THE PRECIOUS METALS OFTEN HAVE LESS THAN A 2% MARGIN BETWEEN BUY AND SELL, CAUSING SALES TAX TO TERMINATE BUSINESS. LEGAL CHALLENGES IN THREE STATES ILLUSTRATING THE GREAT BURDEN PLACED UPON SMALL BUSINESS ON INTERSTATE COMMERCE WITH EXTREMELY COMPLEX AND WIDELY DISPARATE LOCAL LAWS OFTEN RESULTING IN MORE COST IN COMPLIANCE THAN PAID IN TAXES RESULTING FROM THE COMPLIANCE. THIRD PARTY CONTRACTOR USE IN LEGAL ANALYSIS, EXAMINATION OF COMMITTEE TESTIMONY, CRITERIA ASSESSING REVENUE IMPACT AND ON OCCASION CONTACTING STATE AND FEDERAL GOVERNMENT OFFICIALS IN EFFORTS TO EDUCATE MEMBERS AND STAFF ON THE EXPERIENCE OF SMALL BUSINESS FACING COMPLIANCE BURDENS WHICH DO NOT RESULT IN REVENUE GAINS FOR THE TAXING AUTHORITY NOR UNCOVER OR IDENTIFY CRIMINAL MONEY LAUNDERING ACTIVITY RESULTING IN LAW ENFORCEMENT ACTION.