Sales Tax

Silver buyers reporting issues with sales tax and order cancellations with Walmart

As the popularity of buying precious metals online grows, many buyers have experienced issues with being charged sales tax in states where metals aren’t taxed. Some buyers turn to social media for advice on how to deal with customer service when resolving sales tax issues.

Sales tax on precious metals is contentious issue, which is a complicated patchwork of outdated state laws that have created issues that online retailers must contend with since South Dakota v. Wayfair decision in 2018.

Sales Tax When Buying Silver and Gold

$20 Liberty Double Eagle Obverse

The notion of sales tax on precious metals investing is a contentious issue to some and represents a line in the sand between some legislators and investors. Despite the long history of gold and silver being recognized as money, many states continue to tax their citizens for the privilege of owning these metals.

More States Vote to Remove Sales Tax from Precious Metals

silver coins on the table

Last year legislators in Ohio and Arkansas voted to end sales tax on precious metals. Reports are emerging from across the country that more states are considering legislation to remove retail sales tax on investments like gold and silver. According to Kitco, “This year Kentucky, Mississippi, Hawaii, New Jersey and Tennessee are all considering removing … Read moreMore States Vote to Remove Sales Tax from Precious Metals

Which dealers are charging sales tax on bullion?

As a result of the Supreme Court ruling last year in South Dakota v. Wayfair Inc some online bullion dealers have begun charging sales tax on purchases. Many buyers had previously switched to buying bullion online in states that charge sales tax in order to keep the cost of investing in silver and gold bullion down. … Read moreWhich dealers are charging sales tax on bullion?

Bullion Dealers Begin Charging Sales Tax for Online Orders

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When you click on links to various merchants on this site and make a purchase, this can result in this site earning a small commission. More information about our affiliate programs can be found here. As a result of the Supreme Court decision in June 2018 many online bullion retailers have begun to collect sales … Read moreBullion Dealers Begin Charging Sales Tax for Online Orders