How much are tax tokens worth

How much are tax tokens worth

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Luxury tax tokens are collectible coins that commemorate the time when the United States first implemented sales taxes. Just 12 states issued tax tokens, and most of them were for income taxes. Alabama enacted a sales tax as well as a luxury tax token.
Luxury tax tokens were used in the same way as fractional coins were. If a retailer sold a ten-cent item for three-tenths of a cent, he will owe the state three-tenths of a cent in sales tax. But, since he couldn’t raise three-tenths of a penny from the buyer, he was afraid that by the end of the month, he’d have sold hundreds of ten-cent products and owed even more taxes than he had earned. As a result, the state released 1 mill (one-tenth of a cent) coins.
The merchant will now accept 11 cents for a ten-cent transaction and offer seven tax tokens as change, thanks to the introduction of tax tokens. The individual will pay 10 cents plus 3 tokens for the tax the next time he came in.
In fact, the difference between the sales tax and the luxury tax was minimal. The argument that the luxury tax exempted necessities like rice, nails, and sugar was largely political semantics intended to satisfy the masses. However, it eventually spread to the majority of products, including what most people consider essentials such as clothing, molasses, and medicine.

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During the Great Depression, sale tax tokens were used as fractional cent instruments to pay sales tax on small transactions in many American states. Consumers could prevent being overcharged by paying a full penny tax on a purchase of 5 or 10 cents by using sale tax tokens.
Hundreds of millions of colorful plastic tax tokens were distributed by a variety of states. The mills are the denominations on the token (tenths of one cent). CC BY-SA 3.0, by $1LENCE D00600D at English Wikipedia,
In 1921, an attempt was made to enact a 1% sales tax in the United States, which was attached to the 1021 national revenue bill. Despite the fact that a coalition of farmer and labor interests opposed the measure, West Virginia introduced a 1% national sales tax.
An aluminum sales tax token from the state of Washington, priced at 2 mills (15 cents) and valid for the state’s 2% retail sales tax on purchases of 10 cents or less. CC BY-SA 3.0, by $1LENCE D00600D at English Wikipedia,

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Page 116 is a continuation of the previous page. Sales tax tokens for Our American Money by Joseph Coffin, 1940 117 Anonymous November 1935 118 The Pathfinder Sales Tax Can Force Fractional Coin Minting George Magee Jr’s A Check List of US Sales Tax Tokens, April 1936 119 Harold Schmal’s Sales Tax Tokens Draft Catalog of State Tokens by Louisiana and Sales Tax Newsletter 1966 120th April, 1966 Sales Tax Tokens (Illinois Num Assn Coin Digest) A Refresher I by Three very rare Royalton IL paper provisional tax tokens from Derbak s Grocery, Shaffer s Drug Store, and The Blue Front, this last lot wrongly identified as Home Bakery, each drew a bid of 31 00 with 5 6 and 5 bids, respectively. Both of these auctions ended on November 16th. A big crease appeared on the Blue Front piece, as well as what appeared to be a missing small piece in the LL corner. 4 bids on a SALES tax tokens from a California sales tax punch ticket from Safeway ON THE INTERNET A daily feature column is published. R 222 rhamish a lhup edu, Ralph Harnishfeger This past quarter, Ebay auctioned off a number of fascinating pieces. A printing plate used to print Oklahoma sales tax tokens was perhaps of the most historical significance. The plate measured 11 inches by 8 inches and was pictured and listed as such. It was hung on the wall with a hanger and was mounted on wood. This item is for sale.

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During the Great Depression, sales tax tokens were fractional cent instruments used to pay sales tax on very small transactions in many American states. Consumers could use tax tokens to prevent being “overcharged” by having to pay a full penny tax on sales of 5 or 10 cents. Sales tax tokens were usually issued in multiples of 1 mill (110 cent) by private companies, counties, and twelve state governments. [1] Only two nations, Mexico and the Philippines, used a general sales tax for national finance prior to the outbreak of World War I in the summer of 1914. [2] However, excise tax — a purchase tax on the selling of individual goods — was widely used, and the concept of a general sales tax was neither unknown nor elusive to American policymakers.
Indeed, a concerted attempt was made in 1921 to enact a 1% national sales tax in the United States by adding it to the national revenue bill of 1921 and legislation providing for a soldiers’ bonus in 1922.
[3] Despite the fact that plans for a national sales tax were rejected by a coalition of farmer and labor interests, West Virginia introduced its own 1% sales tax in the same year, using the revenue to supplement a corporate income tax.
[3] As economic conditions improved in the 1920s, West Virginia’s use of a sales tax would become unique among the 48 American states.

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