Sales Tax Rules

On June 21, 2018, the United States Supreme Court announced a decision in favor of South Dakota in South Dakota v. Wayfair Inc, where the state argued it was losing out on local sales taxes with more and more consumers shopping online rather than in brick-and-mortar stores.

What Does This Mean For TPM Clients?

Since 2018, online retailers such as Texas Precious Metals have been forced to adapt to the varying state sales tax rules and regulations across the United States. Sales taxes are calculated and charged based on the address where the order is delivered.

EXAMPLES:

1.) A client residing in Arkansas places an order for $1,000 worth of silver. They would be charged an additional $65.00 in sales tax in compliance with Arkansas sales tax laws as they apply to bullion.
2.) A client residing in Arkansas orders $1,000 of silver to be delivered to a Bullion Depository in Texas. In this case, the client would only pay $1,000 to Texas Precious Metals with no sales tax, because Texas has no state sales tax on gold and silver bullion coins or bars.

Tax Rules By State

Clients may refer to the chart below, for a list of sales tax rules by state as they pertain to precious metals. Please note that states periodically change their tax rules, and this list may not be fully up-to-date at all times. There may also be additional sales tax charged based on your city, zipcode, and/or parish as they require.

State	Sales Tax on Bullion
Alabama	No Sales Tax
Alaska	No Sales Tax
Arizona	No Sales Tax
Arkansas	6.50%
California	7.5% on orders below $2000
Colorado	No Sales Tax
Connecticut	6.5% sales tax on orders below $1000
Delaware	No Sales Tax
Florida	6% on orders below $500 unless legal US tender
Georgia	No Sales Tax
Hawaii	4%
Idaho	No Sales Tax
Illinois	South African Krugerrand subject to 6.25%
Indiana	7% - Exemptions apply for certain items.
Iowa	No Sales Tax
Kansas	No Sales Tax
Kentucky	6%
Louisiana	4% on orders below $1000
Maine	5.50%
Maryland	6% on orders below $1000
Massachusetts	6.25% on orders below $1000
Michigan	No Sales Tax
Minnesota	6.88%
Mississippi	7%
Missouri	No Sales Tax

State	Sales Tax on Bullion
Montana	No Sales Tax
Nebraska	No Sales Tax
Nevada	6.85%
New Hampshire	No Sales Tax
New Jersey	7%
New Mexico	5.13%
New York	4% on orders below $1000
North Carolina	No Sales Tax
North Dakota	5% - Exception: 99.9% pure bullion is exempt from sales tax in North Dakota
Ohio	No Sales Tax
Oklahoma	No Sales Tax
Oregon	No Sales Tax
Pennsylvania	No Sales Tax
Rhode Island	No Sales Tax
South Carolina	No Sales Tax
South Dakota	No Sales Tax
Tennessee	No Sales Tax
Texas	No Sales Tax
Utah	No Sales Tax
Vermont	6%
Virginia	5.3% on orders below $1000
Washington	No Sales Tax
West Virginia	No Sales Tax
Wisconsin	No Sales Tax
Wyoming	No Sales Tax

State	Sales Tax on Bullion
Alabama	No Sales Tax
Alaska	No Sales Tax
Arizona	No Sales Tax
Arkansas	6.50%
California	7.5% on orders below $2000
Colorado	No Sales Tax
Connecticut	6.5% sales tax on orders below $1000
Delaware	No Sales Tax
Florida	6% on orders below $500
Georgia	No Sales Tax
Hawaii	4%
Idaho	No Sales Tax
Illinois	South African Krugerrand subject to 6.25%
Indiana	7% - Exemptions apply for certain items.
Iowa	No Sales Tax
Kansas	No Sales Tax
Kentucky	6%
Louisiana	4% on orders below $1000
Maine	5.50%
Maryland	6% on orders below $1000
Massachusetts	6.25% on orders below $1000
Michigan	No Sales Tax
Minnesota	6.88%
Mississippi	7%
Missouri	No Sales Tax
Montana	No Sales Tax
Nebraska	No Sales Tax
Nevada	6.85%
New Hampshire	No Sales Tax
New Jersey	7%
New Mexico	5.13%
New York	4% on orders below $1000
North Carolina	No Sales Tax
North Dakota	5% - Exception: 99.9% pure bullion is exempt from sales tax in North Dakota
Ohio	No Sales Tax
Oklahoma	No Sales Tax
Oregon	No Sales Tax
Pennsylvania	No Sales Tax
Rhode Island	No Sales Tax
South Carolina	No Sales Tax
South Dakota	No Sales Tax
Tennessee	No Sales Tax
Texas	No Sales Tax
Utah	No Sales Tax
Vermont	6%
Virginia	5.3% on orders below $1000
Washington	No Sales Tax
West Virginia	No Sales Tax
Wisconsin	No Sales Tax
Wyoming	No Sales Tax