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It is a State Sales Tax Violation

Nevada charges what, 7 1/2% sales tax? Las Vegas (or Clark County, if that's where the South Point is) may also require a business license for sales, if only for a day or two. The dealers who set up shop at the bourse DO report their sales. Exchanging money for chips by an unlicensed individual may be against the law and also subject the club (as the host for the event) to legal issues.

Having said that, I have in the past been approached by both individuals AND dealers, offering to buy a chip or two (usually new issues). In some cases, where a dealer has some chips I might be interested in, a trade can be worked out. Selling for cash, even outside in the hall or in the (FLUSHHHH!) bathroom can still be deemed illegal, if some sort of policeman or Sales Tax Official is watching.

Messages In This Thread

exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
Re: exchanging cash on floor with other collectors
I don't see a problem if someone comes in with
I wasn't fully aware of this rule.
Back In a Former Life..
I fully agree.
Jim, here is my understanding of the general rule.
Re: Jim, here is my understanding of the general r
Courtesy to the deales...
Re: THIS MAY BE THE PROBLEM THEY HAVE
IT IS RIDICULOUS TO ASSUME
You want to hear something very ironic ?
Re: You want to hear something very ironic ?
Not trying to make excuses for anyone.
Re: Not trying to make excuses for anyone.
While it may have been shortsighted the
It is a State Sales Tax Violation
Really?
Ask a Nevada lawyer!
While not an expert, the general answer is yes!..
Kinda what I thought, Jim . . .

Copyright 2015 David Spragg