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Ask Steve -- a.k.a. Oreport Your Own Ques...
Steve -- a.k.a. Oreport
Steve -- a.k.a. Oreport, Internet Information Researcher
Category: Tax
Satisfied Customers: 1079
Experience:  Links to relevant I.R.S. materials provided with each US Federal Tax answer 1,000 Site-wide Accepts.
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paying ohio taxes

Customer Question

if i trade guns with a dealer he has a used gun and i want to trade mine in, we decide we,ll trade even up no money involved. he ask 300.00 for his but is given me 300.00 for mine. there is no sale money being handled between the two guns. will i have to pay any taxes?
Submitted: 11 years ago.
Category: Tax
Expert:  Lindie replied 11 years ago.

Only way I see tax being involved is if.......


1) he gives you 300.00 credit for yours. He rings up your purchase of the item (which would be the gun at 300.00 plux tax..Then you turn around and use that 300.00 to purchase his and remaining is the tax


2) if you hand over your item requesting it be an even trade of 300.oo plus tax.


2) If you are doing an even swap then no sales tax would be involved in the trade.  


 


Hope that helps.


Get all the facts before making a swap.

Customer: replied 11 years ago.
Reply to Lindie's Post: would like my deposit refunded. this does not answer my question for ohio
Expert:  Steve -- a.k.a. Oreport replied 11 years ago.



I would like to attempt to answer your question.



The State of Ohio imposes both a sales tax and a use tax
A use tax is collected from the purchaser of an item in those cases
where sales tax should have been collected by the vendor at the time of
sale -- but, for one reason or another, was not.



As I see it, your question comes down to something like: Is trading
guns 'straight across' with a gun dealer considered a barter or sale
-- and if it is a barter -- am I still required to pay tax on the
transaction?



I did not find specific information regarding whether or not the State
of Ohio collects use taxes on barter transactions.  I'm sure that
the Ohio Department of Taxation can answer that question for you.



For what it's worth -- I doubt that a gun dealer is legally allowed to barter in the course of doing business.



BotXXXXX XXXXXne: I believe the transaction you outlined above is
taxable.  Either the gun dealer collects sales tax at the time of
the transaction -- or (if sales taxes are not collected) you will owe use tax
on the gun.  Contact the Ohio Department Taxation to be sure.



By the way, Ohio sales-tax and use tax are assessed at exactly the same tax rate.



If my answer has been helpful to you -- I would appreciate you're honoring my efforts by pushing the 'Accept' Button.



If, for whatever reason, you would still like a refund -- e-mail [email protected].



Good Luck!



Steve
 
 



















Customer: replied 11 years ago.
Reply to Oreport's Post: my reply is that my question was not answered correctly..

so i,m asking for my $5.oo deposit refunded into my account.

XXXXX XXXXX

[email protected]
Expert:  Sandi Hargrove, SkyHawks replied 11 years ago.

 This is a sale and a purchase.  You must pay the appropriate sales tax on 300 even if you trade evenly.  He must report the sale in his dealership and the purchase of your gun as well.


If either of you decide not to do so, it can be traced by the required registration transfer of the guns.  It would be in your best interest to pay the tax and keep it legal.  This also protects you in case this gun is reported as stolen or was used in a criminal act without your knowledge OR the dealer's.  The sales tax may be cheaper than the Tylenol to get rid of the "fear headache" over the years.

Expert:  Steve -- a.k.a. Oreport replied 11 years ago.
I gave you the e-mail address for requesting a refund in my previous answer.



However, I strongly recommend that, before asking for a refund, you
review the latest answer posted to your question.  It was posted
by our site's
second highest ranked Tax Specialist -- I can assure you that Sandi
Hargrove did not attain that ranking by giving incomplete, incorrect,
or bad tax advice.



Good Luck!



Steve








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