86 Ill. Adm. Code 130.1910
Antiques, Curios, Art Work, Collectors' Coins, Collectors' Postage Stamps and Like Articles
Section 130
Section 130.1910 Antiques,
Curios, Art Work, Collectors' Coins, Collectors' Postage Stamps and Like
Articles
a) When Tax Applies
Sales of
antiques, curios, art work, collectors' coins, collectors' postage stamps and
like articles to art collectors, philatelists, numismatists or other persons
who purchase such items of tangible personal property for use and not for
resale are within the Retailers' Occupation Tax Act. Persons engaged in the
business of selling these items of tangible personal property to purchasers for
use or consumption are required to remit Retailers' Occupation Tax to the
Department on their gross receipts from such sales.
b) Special Provisions Concerning Stamps
1) Sales of canceled domestic or foreign postage stamps, or of
uncanceled foreign postage stamps, which are not valid for the transportation
of mail in the United States, constitute sales within the Act, and persons
engaged in the business of selling such stamps to purchasers for use or
consumption are liable for the Retailers' Occupation Tax.
2) Effective June 1, 1965, the same is true of postage stamps
which are valid for the transportation of mail if such postage stamps are sold
for an amount which exceeds the face value of the stamp by at least 50% of such
face value, in which case they will be presumed to have value as a collectors'
postage stamp and will be subject to Retailers' Occupation Tax on the full
sales price.
3) Sales of United States uncanceled postage or revenue stamps
which are valid for the transportation of mail or for revenue tax purposes, and
which are sold for an amount that does not exceed the face value of the stamp
by at least 50% of such face value, are not subject to the Retailers'
Occupation Tax.
c) Special Provisions Concerning Coins
Gross receipts
from the sales of legal tender, currency, medallions, or gold or silver coinage
issued by the State of Illinois, the government of the United States of
America, or the government of any foreign country, and bullion are exempt from
Retailers' Occupation Tax.
d) Special Provisions Concerning Art Work
The sale of
art work, even on a commissioned basis, is a transfer of tangible personal
property subject to the Retailers' Occupation Tax. In order for the sale of
art work not to be subject to Retailers' Occupation Tax, it must be of no
commercial value to anyone other than the purchaser. An example of this type
of art work might be a commissioned portrait of the purchaser. (For information
regarding taxation of such art work, see the regulations for the Service
Occupation Tax at 86 Ill. Adm. Code 140.)
e) Special Provisions Concerning Comic Books
1) Comic books that are published and sold as current serial
publications are exempt from Retailers' Occupation Tax as newsprint and ink.
(For information regarding the Newsprint and Ink Exemption from sales tax see
86 Ill. Adm. Code 130.2105.)
2) Comic books sold as collectors' items rather than as newsprint
and ink are subject to Retailers' Occupation Tax. For example, old comic books
sold at conventions that are not current serial publications are subject to
tax.