Gold & Silver Bullion / Collectible State Sales Taxes
Rules and Regulations by State
Buying Gold and Silver in the USA from Metals Mint
When you purchase your favorite gold and silver bullion products from Metals Mint, you’re in some cases required to pay local sales tax on your purchases. Because local sales tax rates are based upon the address, we’ll be shipping your bullion products to, there is often confusion for consumers about what their eventual total will be. To clear up the confusion, we’ve created an interactive directory that lets you research your state’s sales tax rules and regulations so you know in advance what to expect. Please note that your sales tax is dependent upon where we are shipping your bullion, and not necessarily your home address. If you store your gold and silver bullion somewhere other than your home state, please make sure to check the sales tax rates for that location.
Why the Change in Tax Collection?
On June 21, 2018, the Supreme Court of the United States announced a decision in the South Dakota v. Wayfair Inc. case. In short, South Dakota argued that it was losing out on local sales taxes as consumers spent more money shopping online rather than in brick-and-mortar locations. The 1992 Quill Corp v. North Dakota case had set a precedent for how states would eventually deal with online retailers. Back then, the court ruled in favor of Quill Corp, which it agreed did not need to collect sales tax on sales in North Dakota because it had no physical presence in the state.
The June 21st decision in 2018 by SCOTUS wipes out that precedent and opens the door for states to begin forcing online retailers to collect and remit local sales taxes. Online retailers are now forced to adapt to a variety of different sales tax rates and rules across the nation. At Metals Mint, we’re adjusting to the changes and working to make it easier for our customer base to gain a clearer understanding of their total sales figures before a purchase is complete.
We’ve developed our interactive menu to help you figure out what type of sales tax, if any, you’ll face.
States Where We Currently Collect Sales Tax
We presently charge sales tax on the following states in some form.
States Where We Currently DON’T Collect Sales Tax
We presently DON’T charge sales tax on the following states due to Metals Mint not exceeding the Economic NEXUS threshold.