What matters is whether you or any of your heirs might ever consider selling grandma's beloved wingding.
Are you suggesting taxing upon receipt as a way to prevent black market profit? I responded to your post thinking that crack was hyperbole, but it's not, is it?
Some places don't have sales tax, right?
Yes. New Hampshire, Delaware are two, I think.
Oregon also does not have sales tax. Washington has a high sales tax, but no state income tax.
when does money ever change hands without the government taking a cut?
Gifts under the threshold that bon mentioned upthread?
New Hampshire doesn't have sales tax because it is an incredibly stubborn state. With the highest property taxes in the galaxy.
Are you suggesting taxing upon receipt as a way to prevent black market profit? I responded to your post thinking that crack was hyperbole, but it's not, is it?
No, taxing != prevention of black market sale. The idea is, the thing has cash value, and cash value supercedes any intimations of emotional value (because the former can be proved and the latter can not), and why shouldn't the government take a cut of a cash transaction? It does that all the time.
(Yes, the crack thing was a joke.)
We didn't have a sales tax! For a week. Only on clothing and shoes, I think.
It was a little odd. I think it was some back-to-school deal or the legislature being weird, because they do that sometimes.
New Hampshire doesn't have sales tax because it is an incredibly stubborn state.
Regardless, when I buy stuff there, the government does not get a cut from me.
the crack thing was a joke
Then why not tax when something's sold, instead of received?
Oh my...there was even a list!
[link]