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As a result of the Supreme Court decision in June 2018 many online bullion retailers have begun to collect sales tax on orders being shipped to states that view bullion as a taxable item.
State Sales Tax on Silver and Gold bullion varies throughout the country. Some states see bullion as a collectible susceptible to tax, while others view it as an investment or cash alternative that is non-taxable.
Online bullion dealers such as APMEX and JM Bullion have already begun charging sales tax on some orders placed through their websites and eBay stores.
Below is a list states and whether or not they charge sales tax on Coins, Paper Money, and/or Precious Metals. Tax laws are constantly changing. The information below should be used as a guide. Confirm with the online precious metals, bullion or coin dealer prior to purchase to find out if they collect sales tax in your particular locale.
Alabama
The State charges 4% on everything. Many local County & City add additional taxes between 4-5%.
Alaska
No state sales tax, though local governments may still tax.
Arizona
No sales tax collected on precious metals or coins.
Arkansas
Sales tax is collected on precious metals.
California
Precious metals and coin purchases are exempt if the amount is over $1,500.
Colorado
Sales Tax precious metals, bullion and coins varies by city. There is no state sales tax..
Connecticut
Coins that are collectable are exempt from state sales tax. Precious metals purchases under $1,000 are charged sales tax.
Delaware
No sales tax precious metals and coins.
District of Colombia
Sales tax is collected precious metals and coins.
Florida
No sales tax on U.S. coins. Precious metals purchases greater than $500 are taxed.
Georgia
No sales tax on coins or precious metals.
Hawaii
Coins and precious metals purchases are charged excise tax.
Idaho
No sales tax on bullion or coin purchases.
Illinois
No sales tax on precious metals or coins.
Indiana
No sales tax on coins or bullion.
Iowa
No sales tax bullion or coins.
Kansas
Coin and precious metals purchases are subject to sales tax in Kansas.
Kentucky
Coin and precious metals purchases are subject to sales tax in Kentucky.
Louisiana
Coin and bullion purchases over $1,000 are exempt from sales tax.
Maine
Sales tax is collected on all bullion and coin purchases.
Maryland
Collectible coins and bullion are exempt on purchases over $1000.
Massachusetts
Coin and precious metals are exempt on purchases over $1000.
Michigan
No sales tax bullion or coins.
Minnesota
Coin and precious metals purchases are subject to sales tax in Minnesota.
Mississippi
Coin and precious metals purchases are subject to sales tax in Kentucky.
Missouri
No sales tax bullion or coins.
Montana
No sales tax bullion or coins by the state. Some communities charge a 3% provisional tax.
Nebraska
No sales tax bullion or coins.
Nevada
Sales tax is collected on coins that sell for more than 50% of Face Value. Private Mint Bars and Rounds are exempt.
New Hampshire
No sales tax bullion or coins.
New Jersey
Coin and precious metals purchases are subject to sales tax in New Jersey.
New Mexico
Coin and precious metals purchases are subject to sales tax in New Mexico.
New York
Coin and precious metals purchases are subject to sales tax in New York. Bullion purchases over $1,000 are exempt
North Carolina
Coin and precious metals purchases are subject to sales tax in North Carolina
North Dakota
No sales tax bullion or coins.
Ohio
Sales tax exempt on the sale of precious metal bullion and investment coins that are composed mainly of gold, silver, platinum, or palladium.
Oklahoma
State and local sales taxes can apply to precious metals and coin sales.
Oregon
No sales tax bullion or coins.
Pennsylvania
No sales tax bullion or coins.
Rhode Island
No sales tax bullion or coins.
South Carolina
No sales tax bullion or coins.
South Dakota
No sales tax bullion or coins.
Tennessee
No sales tax bullion or coins.
Texas
No sales tax bullion or coins.
Utah
No sales tax bullion or coins.
Vermont
No sales tax bullion or coins.
Virginia
No sales tax bullion or coins.
Washington State
No sales tax bullion or coins.
West Virginia
Coin and precious metals purchases are subject to sales tax in West Virginia.
Wisconsin
Coin and precious metals purchases are subject to sales tax in Wisconsin.
Wyoming
Precious metals purchases are subject to sales tax in Wyoming.
As with all tax related matters it is best to consult a qualified tax professional. Check with each dealer prior to purchase to determine if they will be charging sales taxes on your purchases.
