Taxes

Discussion in 'The Powder Keg' started by inuyasha, Aug 20, 2010.

  1. I am not sure how many have heard this yet, but Oklahoma raised their "coin op" tax in July. As it stood, each machine would be taxed $50 a year per machine including everything from pop machines and vending machines to arcades and jukeboxes. The new tax that just came in raised this price to $150 a year per machine. I dont even have a coin op business but this bothers me a great deal as I mess with coin op by buy/sell as a hobby, and from first hand experience it is really expensive just to fix machines without having to be taxed.

    On top of this, OK already charges an additional $29 decal tax. Vending/pop machines get it worse since they vend a product, meaning now the owner has to pay for more foodstuffs to sell to cover the cost, then recoup the costs of the extra product they had to sell. In a day and age where arcade companies are few and far between (Stern is the only major pinball maker left for instance) I find this troubling. One of the companies around my area will be closing due to the increased cost, having been in the business since the 60s.

    Dont be so stingey giving your kids pocket change, their kids may never get the chance.
     
  2. killsnapz

    killsnapz G&G Evangelist

    It kind of remonds me of the way Conneticut collects on it's car taxes. The car is sold new and they pop you for 6% sales tax. Then ever year they pop you for the assesed value of the vehicle somtimes as much as 2.5%. Then you sell the car say for 10,000 bucks 4 years later. They pop the new owner for 6% sales tax agian and then keep poping them every year for 2.5% of the assesed value. Overe the average lifetime of a 30,000 dollar car they probally collect closes to five or six thousand dollars before it makes it way to the scrap yard. I just will never get how it is legal to keep charging tax on something over and over agian.

    Michael
     

  3. They are also trying to get rid of your home mortgage deduction.