The answer to the question of how to avoid paying sales tax on precious metals is simple: store your metals abroad or in one of the five states that currently do not charge sales taxes. Whether or not you have to pay sales tax on a purchase of precious metals depends on where you are located. Some states require sales tax collection, while others don't. Some states may also charge sales tax to a certain extent, and there may be exemptions beyond that point. To determine if you will be required to pay sales tax on your order, check the status of your shipping address.
Precious metals are exempt from sales tax in many states, however, each state within the U. S. has its own rules and regulations when it comes to collecting sales tax on precious metals. For example, Alabama requires a simplified seller use tax of 8% on some products sold by BGASC and delivered to an Alabama address. These taxes must be levied on copper products, certain ingot items have less than.
All other products sold by BGASC are exempt from these taxes. In Alaska, there is currently no state sales tax in effect, so BGASC is not required to collect sales tax on any product that ships to an address in Alaska. In Arizona, no sales tax will be charged for gold, silver, platinum or palladium bullion items, as they are exempt from sales tax when shipped to an Arizona address. The State of Arizona requires tax collection on some products sold by BGASC and delivered to an Arizona address. These taxes must be levied on copper products, accessories and processed items. In Arkansas, no sales tax will be charged for gold, silver, platinum or palladium bullion items, as they are exempt from sales tax when shipped to an Arkansas address (effective October 1, 2020).
The State of Arkansas requires the collection of sales tax on some products sold by BGASC and delivered to an Arkansas Address. These taxes must be levied on copper products, precious metal ingots that do not meet certain purity requirements, accessory items and processed items. In Colorado, no sales tax will be charged for gold, silver, platinum or palladium bullion items, as they are exempt from sales tax when shipped to a Colorado address. The State of Colorado requires tax collection on some products sold by BGASC and delivered to a Colorado address. These taxes must be levied on copper products, certain numismatic products, accessory items and processed items. The District of Columbia requires BGASC to collect sales tax on all products sold by BGASC and delivered to an address in the District of Columbia. In Georgia, no sales tax will be charged for gold, silver, or platinum bullion items, as they are exempt from sales tax when shipped to a Georgia address.
The State of Georgia requires the collection of sales tax on some products sold by BGASC and delivered to an address in Georgia. These taxes must be levied on palladium products, copper products, certain currency, accessory items and processed items. The State of Hawaii requires BGASC to charge general excise duties on all products sold by BGASC and delivered to an address in Hawaii. In Idaho, no sales tax will be charged for gold, silver, platinum or palladium bullion items, as they are exempt from sales tax when shipped to an Idaho address. The State of Idaho requires the collection of sales tax on some products sold by BGASC and delivered to an Idaho address. These taxes must be levied on copper products, certain currency, accessory items and processed items. In Illinois, no sales tax will be charged for most gold, silver or platinum bullion items as they are exempt from sales tax when shipped to an Illinois address.
The State of Illinois requires tax collection on certain products sold by BGASC and delivered to an Illinois address. These taxes must be levied on certain palladium products, copper products any ingot less than. In Indiana no sales tax will be charged for any U. legal tender coins and most of them gold (. The State of Indiana requires the collection of sales tax on some products sold by BGASC and delivered to an address in Indiana.
These taxes must be levied on copper products any country other than the U. S. Gold legal tender products with a purity lower than. In Iowa no sales tax will be charged for gold silver platinum or palladium bullion or legal tender items as they are exempt from sales tax when shipped to an Iowa address. The State of Iowa requires the collection of sales tax on some products sold by BGASC and delivered to an Iowa address.
These taxes must be levied on copper products certain currency accessory items and processed items. In Kansas no sales tax will be charged for items in gold silver platinum or palladium bars or gold or silver coins as they are exempt from sales tax when shipped to a Kansas address. The State of Kansas requires tax collection on some products sold by BGASC and delivered to an address in Kansas. These taxes must be levied on any currency other than gold or silver copper products accessory items and processed items. The State of Kentucky requires BGASC to collect taxes on all products sold by BGASC and delivered to a Kentucky address. The State of Maine requires BGASC to collect sales tax on all products sold by BGASC and delivered to an address in Maine. In Michigan no sales tax will be charged for gold silver or platinum investment coins and bullion items as they are exempt from sales tax when shipped to a Michigan address. The State of Michigan requires the collection of sales tax on some products sold by BGASC and delivered to...
