[Jewelry making - Article 00047] - Re: [Orchid] Patriot Act, How you do business?

[Elna]

========[ Invite a Friend - http://www.ganoksin.com/invite.htm  ]========

Tucked away in the JVC website:

    "According to the final rules, you must institute an AML program if: 

    1. You are a dealer, meaning, you purchased "covered goods"
    (precious metal, jewels and stones and finished goods) in an amount
    in excess of $50,000 during the prior calendar or tax year AND
    received more than $50,000 in gross proceeds from the sale of
    precious metal, jewels or stones during the same period. 

    2. The calculation of the value threshold for purchase and sale is
    limited to the value of the precious metal, precious jewels and
    stones ONLY!" 

    Hope this helps clarify matters.... 

    Elna, in Berkeley where the blossoms are bustin' out all over the
    place!
____________________________________________________________________
T h e   O r c h i d   L i s t
Open Electronic Forum for Jewelry Manufacturing Methods and Procedures
____________________________________________________________________
Orchid FAQ:
~ http://www.ganoksin.com/orchid/faq.htm
Orchid Archives:
~ http://www.ganoksin.com/orchid/archive
Orchid Galleries:
~ http://www.ganoksin.com/orchid/gallery.htm
Invite a Friend:
~ http://www.ganoksin.com/invite.htm
____________________________________________________________________
Tips From The Jeweler's Bench - Article Archive
~ http://www.ganoksin.com/borisat/tip_sear.htm
The Jeweler's Selected Bibliography List
~ http://www.ganoksin.com/jewelry-books
Buy Orchid Jewelry:
~ http://www.ganoksin.com/shop
____________________________________________________________________
-Unsubscribe:
-Email: orchid-request AT ganoksin.com Body=unsubscribe subject=blank
____________________________________________________________________