By: Priya Sorathia
With the holidays coming up, who wouldn’t mind being gifted a $10,000 piece of jewelry? However, buyers beware! In many states, not only does the purchaser of luxury goods need to pay the normal sales tax, but also a luxury tax. The luxury tax is not just imposed on jewelry, but also on expensive items such as expensive furs, boats, yachts, private jet planes, etc.
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