Earlier this month the Maryland General Assembly unanimously passed House Bill 1386 to amend the Code of Maryland Regulations (COMAR) 17-1801 to exempt dealers attending the American Numismatic Association World’s Fair of Money from having to pay sales tax. As the law was originally written, a dealer who attended more than three shows would have to apply for a trader’s license with its appropriate fees and requirement to pay sales taxes.
The amended law says that a dealer would file an affidavit saying that they “has not participated in more than 3 shows, not including participation in one show sponsored by a national organization that is exempt from taxation under § 501(c)(3) of the Internal Revenue Code, during the previous 365 days.” (change underlined) The ANA is a tax exempt organization.
This means that dealers can continue to attend the thrice yearly Whitman Shows (next one on June 5-7) and also the World’s Fair of Money in July-August without the burden of having to pay Maryland Sales Taxes. Since the bourse at the World’s Fair of Money is sold out, this amended law will preserve the attendance at the Whitman show.
HB 1386 has yet to be signed by Governor Martin O’Malley. The next bill signing day will be on Thursday, April 24 at 10:00am where this bill should be part of that ceremony.
As president of one of the sponsoring clubs, I invite everyone to Baltimore this summer to see what will be a fantastic show that will include four halls of the Baltimore Convention Center being open for the bourse activities. Book your rooms now since many of the area hotels are beginning to report sell outs!