Precious Metals Sales Tax By State

GR Reserve Sales Tax Information

Last Updated: November 1, 2025

Understanding Sales Tax on Precious Metals

Sales tax on precious metals varies significantly across the United States, with each state maintaining its own regulations, exemptions, and thresholds. Understanding these differences is crucial for investors and collectors who want to minimize their tax burden while remaining compliant with state and local laws.

The precious metals industry has seen significant legislative activity in recent years, with many states recognizing the importance of gold and silver as monetary assets and implementing tax policies that encourage precious metals ownership. However, the landscape remains complex, with some states maintaining full taxation while others provide comprehensive exemptions.

GR Reserve is committed to providing accurate, up-to-date information about sales tax obligations in each state where we conduct business. This comprehensive guide reflects the most current information available as of November 4, 2025, including recent legislative changes that have taken effect throughout 2025.

How Sales Tax is Applied

Sales tax on precious metals typically depends on several factors including the type of product, the total transaction value, the purity of the metals, and the specific state regulations. Some states exempt all precious metals transactions, while others apply complex formulas based on premiums over spot price or minimum purchase thresholds.

It is important to understand that sales tax is applied at the time of purchase and is based on the shipping destination, not the location of the seller. This means that customers purchasing from GR Reserve will be subject to the sales tax laws of the state where their order is being shipped.

Product Definitions

Understanding how different states classify precious metals products is essential for determining tax obligations. The following definitions are commonly used across various state tax codes:

Precious Metal Bullion: Refined precious metals in the form of bars, ingots, or rounds that derive their value primarily from their metal content rather than numismatic or collectible value. This typically includes gold, silver, platinum, and palladium products with high purity standards. Many states provide exemptions for bullion, often with specific purity requirements.

Legal Tender Coins: Coins that have been issued by a government and are recognized as official currency. This includes American Eagles, Canadian Maple Leafs, and other government-issued precious metals coins.

Numismatic Coins: Coins that derive value from factors beyond their precious metal content, including rarity, condition, age, or historical significance. These products often trade at significant premiums to their metal value. Some states have specific rules for numismatic coins, which may differ from the rules for bullion.

Investment Metal Bullion: A specific classification used by some states to describe precious metals purchased primarily for investment purposes rather than industrial use or collection.

Accessory Items: Products related to precious metals storage and handling, including coin tubes, holders, storage boxes, and protective cases. In most states, accessories are considered tangible personal property and are subject to sales tax, even if the precious metals themselves are exempt.

Processed Items: Precious metals that have been manufactured into jewelry, decorative items, or other products where the value is derived from craftsmanship in addition to metal content. These items are generally taxable, as their value is derived from their form and function, not just their metal content.

Table of Contents

Quick Navigation by State

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Colorado
• Connecticut
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• Missouri
• Montana
• Nebraska
• Nevada
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin
• Wyoming

Additional Information

• Tax Optimization Strategies
• Recent Legislative Changes
• Frequently Asked Questions
• Important Legal Disclaimers
• Contact Information

State-by-State Sales Tax Information

Alabama

Tax Status: Exempt for precious metals bullion and legal tender coins
Local Sales Tax: Yes
Effective Date: Sales tax exemption implemented in 2018, expanded and confirmed through multiple legislative actions
Account Number: SSU-R010072952
Recent Updates: Senate Bill 130, signed April 10, 2025, reaffirmed gold and silver as legal tender in Alabama. The current sales tax exemption is set to expire on May 31, 2028.

Alabama has established itself as a leader in sound money policies, having eliminated both sales tax and capital gains tax on precious metals transactions. The state recognizes gold and silver as legal tender for voluntary transactions, providing a comprehensive framework that supports precious metals ownership and investment.

Taxable Products:

• Accessories and storage items
• Processed precious metals (jewelry, decorative items)
• Copper products
• Numismatic coins that do not qualify as legal tender

Exempt Products:

• Gold, silver, platinum, and palladium bullion
• Legal tender coins issued by any government
• Investment-grade precious metals regardless of transaction size

Alaska

Tax Status: No state sales tax
Local Taxes: Some municipalities may impose local sales taxes
Special Considerations: Customers should verify local tax obligations with their municipality

Alaska does not impose a state-level sales tax on any products, including precious metals. However, some local jurisdictions may have their own sales tax ordinances that could apply to precious metals transactions.

Arizona

Tax Status: Exempt for precious metals bullion and legal tender coins
Threshold: No minimum purchase requirement
Implementation: Comprehensive exemption for investment-grade precious metals

Arizona provides a broad exemption for precious metals that are purchased for investment purposes. The state recognizes the monetary nature of gold and silver and has structured its tax policy to encourage precious metals ownership.

Taxable Products:

• Jewelry and decorative items
• Numismatic coins valued primarily for collectible rather than metal content
• Accessories and storage items

Exempt Products:

• Gold, silver, platinum, and palladium bullion
• Legal tender coins
• Investment-grade precious metals products

Arkansas

Tax Status: Exempt for precious metals bullion and legal tender coins
Threshold: No minimum purchase requirement
Recent Legislation: Comprehensive precious metals exemption enacted

Arkansas has joined the growing number of states that recognize precious metals as monetary assets deserving of tax exemption. The state’s exemption covers a broad range of precious metals products purchased for investment purposes.

California

Tax Status: Partial exemption based on transaction value
Local Sales Tax: Yes
Threshold: Precious metals portion of transaction must equal or exceed $2,000
Calculation Method: Exemption applies to the subtotal of qualifying precious metals products, not the entire order total. Non-qualifying items (like accessories or copper) do not count toward the threshold.

California maintains a threshold-based exemption system where the precious metals portion of a transaction must meet or exceed $2,000 to qualify for sales tax exemption. This calculation is based on the subtotal of qualifying precious metals products before shipping and handling charges.

Taxable Products:

• Precious metals transactions under $2,000
• Jewelry and processed items
• Accessories and storage items
• Numismatic coins that do not meet investment criteria

Exempt Products:

• Precious metals bullion and legal tender coins when transaction subtotal ≥ $2,000
• Investment-grade gold, silver, platinum, and palladium meeting threshold requirements

Colorado

Tax Status: Exempt
Local Sales Tax: Yes
Governing Authority: Colorado Department of Revenue
Statutory Reference: C.R.S. § 39-26-706
Recent Updates: The Department of Revenue issued revised guidance in March 2025, clarifying existing law.

Colorado provides a comprehensive sales and use tax exemption for precious metal bullion and coins. This exemption, originally enacted in 1990, applies to both state and state-administered local taxes and does not have a minimum purchase threshold. The law makes a clear distinction between exempt investment-grade metals and taxable numismatic or collectible items.

Taxable Products:

• Numismatic coins not made from precious metals
• Commemorative items, jewelry, and works of art
• Accessories and storage items

Exempt Products:

• Gold, silver, platinum, and palladium bullion
• Legal tender coins from any country

Connecticut

Tax Status: Partial Exemption (with major upcoming changes)
Local Sales Tax: Yes
Governing Authority: Connecticut Department of Revenue Services
Statutory Reference: Conn. Gen. Stat. § 12-412(45)
Recent Updates: Public Act 23-204, effective July 1, 2027, will eliminate the threshold and expand the exemption.

Connecticut currently maintains a $1,000 threshold for its sales tax exemption on gold and silver bullion and coins. Transactions below this value are fully taxable. However, significant changes are scheduled for 2027.

Current Taxable Products (Until June 30, 2027):

• Gold and silver transactions under $1,000
• All platinum and palladium products
• Accessories and processed items
• Numismatic coins valued for collectible properties

Current Exempt Products (Until June 30, 2027):

• Gold and silver bullion and legal tender coins when the transaction total is $1,000 or more

Delaware

Tax Status: No state sales tax
Special Considerations: No local sales taxes imposed

Delaware does not impose sales tax on any products, making it one of the most favorable states for precious metals purchases. The state has no local sales tax jurisdictions, providing complete tax exemption for all precious metals transactions.

Florida

Tax Status: Partial Exemption
Local Sales Tax: Yes
Governing Authority: Florida Department of Revenue
Statutory Reference: Fla. Stat. § 212.08(7)(ww)
Recent Updates: HB 999, signed in 2025, recognizes gold and silver as legal tender effective July 1, 2026, but implementation is contingent on legislative ratification of rules.

Florida provides a sales tax exemption for individual precious metals items, including legal tender coins, with a value exceeding $500. Items valued at $500 or less are fully taxable.

Taxable Products:

• Individual precious metals items valued at $500 or less
• Accessories and storage items
• Processed precious metals and jewelry

Exempt Products:

• Individual precious metals items exceeding $500 in value
• Qualifying gold, silver, platinum, and palladium products

Georgia

Tax Status: Exempt
Local Sales Tax: Yes
Governing Authority: Georgia Department of Revenue
Statutory References: O.C.G.A. § 48-8-3; Ga. Comp. R. & Regs. R. 560-12-2-.108
Effective Date: May 10, 2001

Georgia provides a comprehensive sales and use tax exemption for precious metals bullion, coins, and currency. The exemption applies to gold, silver, and platinum products where the value is based on the metal content and not the form. There is no minimum purchase threshold.

It is important to note that recent legislative efforts, such as HB 895, have focused on excluding capital gains from income tax and do not affect the existing sales tax exemption.

Taxable Products:

• Jewelry, works of art, and items for industrial use
• Accessories and storage items

Exempt Products:

• Bullion (bars, ingots, or coins) of gold, silver, or platinum
• Legal tender coins or currency from any nation

Hawaii

Tax Status: ⚠️ FULLY TAXABLE
Local Sales Tax: Yes
Governing Authority: Hawaii Department of Taxation
Recent Updates: No sales tax exemption exists for precious metals in Hawaii. All sales are subject to the state’s General Excise Tax (GET).

Hawaii imposes its General Excise Tax (GET) on all precious metals transactions, with no exemptions for bullion or legal tender coins. The GET is levied on the gross proceeds of the sale and is typically passed on to the buyer by the seller. The state-level GET is 4%, but some counties impose an additional surcharge, bringing the total rate to 4.5% in some jurisdictions.

Recent legislative sessions have not produced any successful bills to create a precious metals sales tax exemption in Hawaii. Investors should be aware that all precious metals purchases shipped to Hawaii are subject to the applicable GET rate.

Idaho

Tax Status: Exempt
Local Sales Tax: Yes
Governing Authority: Idaho State Tax Commission
Statutory References: Idaho Code § 63-3622V; Idaho Admin. Code r. 35.01.02.039
Recent Updates: The Idaho Constitutional Money Act of 2024 (HB 627) reaffirmed the legal tender status of gold and silver, and HB 1379 (2025) eliminated the state capital gains tax on precious metals.

Idaho provides a comprehensive sales tax exemption for precious metal bullion and monetized bullion. This long-standing exemption, established in 1984, has been reinforced by recent legislation that further solidifies the state’s sound money policies. The exemption applies to bullion where the value is based on the metal content and not the form, and to coins or other forms of money used as a medium of exchange.

In addition to the sales tax exemption, Idaho has also eliminated the state capital gains tax on the sale or exchange of gold and silver bullion as of March 2025.

Taxable Products:

• Coins or money sold to create jewelry
• Numismatic coins where the value is determined by their form and not their metal content
• Accessories and storage items

Exempt Products:

• Precious metal bullion (gold, silver, platinum, etc.)
• Monetized bullion (legal tender coins)

Illinois

Tax Status: Complex exemption based on purity and coin type
Purity Requirements: Bullion must meet minimum purity standards
Coin Classifications: Specific requirements for different coin types
Taxable Items: Bullion below 0.980 purity, certain state and foreign coins

Illinois maintains detailed purity requirements for precious metals exemptions. Bullion must meet minimum purity standards of 0.980 to qualify for exemption, and specific coin classifications determine tax treatment.

Taxable Products:

• Bullion below 0.980 purity
• Certain state-issued and foreign coins that do not meet federal legal tender requirements
• Accessories and processed items

Exempt Products:

• High-purity bullion meeting state standards
• Federal legal tender coins
• Qualifying investment-grade precious metals

Indiana

Tax Status: Partial Exemption
Local Sales Tax: Yes
Governing Authority: Indiana Department of Revenue
Statutory Reference: Ind. Code § 6-2.5-5-47
Recent Updates: The Department of Revenue issued clarifying guidance in Sales Tax Information Bulletin #50 in October 2023.

Indiana provides a sales tax exemption for precious metals that meet specific criteria related to IRA-approved investments or legal tender status. The exemption, effective since July 1, 2016, is not based on a minimum purchase amount but on the type of product.

Exemption Criteria:

1. IRA-Approved Bullion: Coins or bullion that are permitted investments by an Individual Retirement Account (IRA) under 26 U.S.C. 408(m).
2. Legal Tender: Transactions involving the sale of legal tender of the United States.

Purity Requirements for IRA-Approved Bullion:

• Gold: 99.5% or higher
• Silver: 99.9% or higher
• Platinum/Palladium: 99.95% or higher

Taxable Products:

• Bullion that does not meet the IRA-approved fineness requirements
• Foreign gold and silver coins (not considered legal tender for this exemption)
• Numismatic coins that are considered collectibles and not IRA-approved
• Accessories and storage items

Exempt Products:

• Bullion meeting the IRA purity standards
• All United States coins and currency, regardless of age

Iowa

Tax Status: Exempt
Local Sales Tax: Yes
Governing Authority: Iowa Department of Revenue
Statutory Reference: Iowa Code § 423.3(91)
Effective Date: July 1, 2006
Recent Updates: HF 2626, enacted in 2024, exempts capital gains from the sale of bullion from state income tax, effective for tax year 2025.

Iowa provides a comprehensive sales and use tax exemption for coins, currency, and bullion. The exemption, which was reinstated in 2006, is not based on a minimum purchase amount or purity requirement. Instead, the key criterion for bullion is that the value of the metal must exceed the value of the manufacturing labor and skill involved.

In addition to the sales tax exemption, Iowa has also eliminated the state capital gains tax on the sale of bullion, effective for tax year 2025.

Taxable Products:

• Commemorative medallions where the value of the labor and skill exceeds the value of the metal
• Accessories and storage items

Exempt Products:

• Coins, currency, and bullion (gold, silver, platinum, palladium)
• Commemorative medallions where the metal value exceeds the manufacturing value

Kansas

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Sound money legislation supporting precious metals ownership
Coverage: Comprehensive exemption for investment-grade products

Kansas has implemented sound money policies that include comprehensive exemptions for precious metals, recognizing their role as monetary assets and stores of value.

Kentucky

Tax Status: Exempt
Local Sales Tax: No
Governing Authority: Kentucky Department of Revenue
Statutory Reference: KRS 139.480(37)
Effective Date: August 1, 2024 (Retroactive)

Kentucky enacted a comprehensive sales and use tax exemption for currency and bullion, effective retroactively to August 1, 2024. This major change was implemented through House Bill 8 (2024). The exemption applies to both state and local sales taxes and does not have a minimum purchase threshold.

Taxable Products:

• Numismatic coins valued for their form rather than metal content
• Accessories and storage items

Exempt Products:

• Currency (coins or paper money used as a medium of exchange)
• Bullion (bars, ingots, or coins of gold, silver, platinum, or palladium valued on metal content)

Louisiana

Tax Status: Partial Exclusion
Local Sales Tax: Yes
Governing Authority: Louisiana Department of Revenue
Statutory References: R.S. 47:301(16)(b)(ii); R.S. 47:302(AA)(29)
Effective Date: October 1, 2017
Recent Updates: Senate Bill 232 (2024) recognized gold and silver as legal tender.

Louisiana provides a state sales and use tax exclusion for platinum, gold, and silver bullion, as well as for numismatic coins with a sales price of $1,000 or less. This exclusion, effective since October 1, 2017, is specific and does not apply to all precious metals.

Important Note: The state exclusion does not apply to palladium or copper products, which are fully taxable. Furthermore, the exclusion may not apply to local sales taxes, which can still be levied by individual parishes.

Taxable Products:

• Palladium and copper products
• Numismatic coins with a sales price over $1,000
• Accessories and storage items

Exempt Products (from state sales tax):

• Platinum, gold, or silver bullion valued solely on its metal content
• Numismatic coins with a sales price of $1,000 or less

Maine

Tax Status: ⚠️ FULLY TAXABLE
Local Sales Tax: Yes
Governing Authority: Maine Revenue Services
Recent Updates: No sales tax exemption exists for precious metals in Maine. All sales are subject to the state’s 5.5% sales tax.

Maine imposes its 5.5% state sales tax on all precious metals transactions, with no exemptions for bullion or legal tender coins. Multiple recent legislative attempts to create an exemption have failed, including LD 1095 in 2024 and LD 1289 in 2025. As a result, all precious metals purchases shipped to Maine are fully taxable.

Maryland

Tax Status: ⚠️ FULLY TAXABLE (Effective July 1, 2025)
Local Sales Tax: No
Governing Authority: Comptroller of Maryland
Statutory Reference: Md. Code, Tax-Gen. § 11-216 (Amended by HB 352, 2025)
Recent Updates: The precious metals sales tax exemption was repealed effective July 1, 2025.

Effective July 1, 2025, Maryland imposes its 6% state sales tax on all precious metals transactions. The previous exemption for transactions over $1,000 was eliminated by the Budget Reconciliation and Financing Act of 2025 (House Bill 352).

Taxable Products (Effective July 1, 2025):

• All precious metals bullion and coins (gold, silver, platinum, palladium)
• Legal tender coins
• Investment-grade precious metals
• Accessories and processed items

Exempt Products:

• Sales made at the Baltimore Convention Center during a show

Tax Rate: 6% Maryland state sales tax

This change represents a significant shift in Maryland’s tax policy and customers should be aware that all precious metals purchases shipped to Maryland addresses will be subject to sales tax unless purchased at the specifically exempted Baltimore Convention Center location.

Massachusetts

Tax Status: Partial Exemption
Local Sales Tax: No
Governing Authority: Massachusetts Department of Revenue
Statutory Reference: Mass. Gen. Laws ch. 64H, § 6(ll)
Effective Date: September 1, 1999

Massachusetts provides a partial sales tax exemption for gold and silver bullion and coins, but only if the transaction value is $1,000 or more. This long-standing exemption, effective since 1999, is specific and does not apply to all precious metals.

Important Note: All sales of platinum and palladium products are fully taxable, regardless of the transaction amount.

Taxable Products:

• All transactions of gold and silver under $1,000
• All sales of platinum and palladium
• Accessories and storage items

Exempt Products:

• Gold and silver bullion, coins, and legal tender when the transaction value is $1,000 or more

Michigan

Tax Status: Partial Exemption
Local Sales Tax: No
Governing Authority: Michigan Department of Treasury
Statutory Reference: MCL 205.54s
Effective Date: July 7, 1999

Recent Updates: House Bills 5129-5131, introduced in October 2025, propose to expand the definition of exempt bullion.

Michigan provides a sales and use tax exemption for investment coins and bullion. The exemption, enacted in 1999, is not based on a minimum purchase amount but does have a specific purity requirement for bullion.

Purity Requirement for Bullion:

• Gold, silver, or platinum must have a purity of 90% or higher (900 parts per 1,000).

Taxable Products:

• Bullion that does not meet the 90% purity requirement
• Accessories and storage items

Exempt Products:

• Bullion (gold, silver, platinum) with a purity of 90% or higher
• Investment coins (including palladium) where the fair market value is greater than the face value

Minnesota

Tax Status: Partial Exemption (with recent expansion)
Local Sales Tax: Yes
Governing Authority: Minnesota Department of Revenue
Statutory Reference: Minn. Stat. § 297A.67, Subd. 34
Recent Updates: The sales tax exemption was expanded to include coins and currency, effective July 1, 2025.

Minnesota provides a sales tax exemption for precious metal bullion, coins, and other forms of currency. A significant legislative change in 2025 expanded the previous exemption, which only applied to high-purity bullion bars and rounds.

Purity Requirement for Bullion:

• The exemption for bullion applies only to bars or rounds that consist of 99.9% or more by weight of gold, silver, platinum, or palladium.

Taxable Products:

• Bullion that does not meet the 99.9% purity requirement
• Accessories and storage items

Exempt Products:

• Bullion (bars or rounds) with a purity of 99.9% or higher
• Coins and other forms of currency (effective July 1, 2025)

Mississippi

Tax Status: Exempt
Local Sales Tax: No
Governing Authority: Mississippi Department of Revenue
Statutory Reference: Miss. Code Ann. § 27-65-111(ff)
Effective Date: July 1, 2023

Mississippi provides a comprehensive sales tax exemption for investment coins, currency, and bullion. This exemption, effective since July 1, 2023, was enacted to encourage the ownership of precious metals as a store of value.

Taxable Products:

• Jewelry and other decorative items
• Accessories and storage items

Exempt Products:

• Investment coins, currency, and bullion made of gold, silver, platinum, or palladium

Missouri

Tax Status: Partial Exemption
Local Sales Tax: Yes
Governing Authority: Missouri Department of Revenue
Statutory Reference: RSMo § 144.815
Effective Date: August 28, 2001
Recent Updates: The “Constitutional Money Act” (HB 754), effective August 28, 2025, recognizes gold and silver as legal tender and creates an income tax exemption for capital gains on their sale, effective January 1, 2026.

Missouri provides a sales and use tax exemption for investment coins and bullion. This long-standing exemption, effective since 2001, has a specific purity requirement for bullion.

Purity Requirement for Bullion:

• Gold, silver, platinum, or palladium must have a purity of 90% or higher (900 parts per 1,000).

Taxable Products:

• Bullion that does not meet the 90% purity requirement
• Accessories and storage items

Exempt Products:

• Bullion (gold, silver, platinum, palladium) with a purity of 90% or higher
• Investment coins where the fair market value is greater than the face value

Montana

Tax Status: No state sales tax
Local Taxes: Some resort areas may impose local taxes
Special Considerations: Verify local tax obligations in resort communities

Montana does not impose state sales tax on any products. Some resort areas may have local tax provisions, but these are limited in scope and application.

Nebraska

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive precious metals exemption
Coverage: Investment-grade metals and legal tender coins

Nebraska provides comprehensive exemptions for precious metals purchased for investment purposes, supporting the state’s favorable policies toward monetary metals.

Nevada

Tax Status: ⚠️ FULLY TAXABLE
Local Sales Tax: Yes
Governing Authority: Nevada Department of Taxation
Recent Updates: No sales tax exemption exists for precious metals in Nevada. Assembly Bill 359, which would have created an exemption, failed to pass during the 2025 legislative session.

Nevada imposes state and local sales taxes on all precious metals transactions, with no exemptions for bullion or legal tender coins. A recent legislative effort to create a sales tax exemption, Assembly Bill 359, did not pass during the 2025 session. Therefore, all precious metals purchases shipped to Nevada are subject to the applicable state and local sales tax rates.

New Hampshire

Tax Status: No state sales tax
Local Taxes: No local sales taxes imposed
Special Considerations: Complete tax exemption for all products

New Hampshire does not impose sales tax at the state or local level, providing complete exemption for all precious metals transactions.

New Jersey

Tax Status: Partial exemption based on fair market value – MAJOR POSITIVE CHANGE
Effective Date: January 1, 2025
Threshold: Individual items with Fair Market Value ≥ $1,000
Legislative Change: Senate Bill 721 enacted January 1, 2025
Coverage: Gold, silver, platinum, and palladium bullion and coins

IMPORTANT UPDATE: New Jersey implemented a significant positive change effective January 1, 2025, creating new exemptions for precious metals with fair market value of $1,000 or more.

Taxable Products:

• Individual precious metals items with Fair Market Value under $1,000
• Accessories and storage items
• Processed precious metals and jewelry
• Copper products

Exempt Products:

• Gold, silver, platinum, and palladium bullion and coins with individual Fair Market Value ≥ $1,000
• Qualifying investment-grade precious metals meeting threshold requirements

This represents a major improvement for New Jersey precious metals investors and aligns the state with national trends toward precious metals tax exemptions.

New Mexico

Tax Status: Gross Receipts Tax Deduction
Local Sales Tax: Yes (GRT varies by locality)
Governing Authority: New Mexico Taxation and Revenue Department
Statutory Reference: NMSA 1978, § 7-9-106.1
Effective Date: July 1, 2023

New Mexico provides a Gross Receipts Tax (GRT) deduction for the sale of investment coins and investment metal bullion, effectively making these transactions tax-free for the consumer. This deduction, effective since July 1, 2023, is specific and does not apply to all precious metals.

Important Note: New Mexico has a GRT, not a sales tax. The tax is imposed on the seller, who typically passes it on to the buyer. The GRT rate varies by locality.

Taxable Products:

• Jewelry, works of art, and novelty or commemorative pieces
• Accessories and storage items

Exempt Products (via GRT deduction):

• Investment coins (legal tender of any country)
• Investment metal bullion (gold, silver, platinum, palladium) valued on its metal content

New York

Tax Status: Complex exemption based on premium ratios over spot price
Premium Limits: Silver 140%, Small Gold 120%, Other Precious Metals 115%
Calculation Method: Premium must be within state-specified ratios
Implementation: Sophisticated system recognizing investment vs. collectible value

New York maintains one of the most sophisticated precious metals tax systems in the United States, with exemptions based on premium ratios over spot price. This system effectively distinguishes between investment-grade precious metals and collectible items.

Premium Ratio Requirements:

• Silver products: Premium within 140% of spot price
• Small gold products: Premium within 120% of spot price
• Other precious metals: Premium within 115% of spot price

Taxable Products:

• Precious metals with premiums exceeding state ratios
• Numismatic coins valued primarily for collectible properties
• Accessories and processed items

Exempt Products:

• Precious metals with premiums within specified ratios
• Investment-grade bullion and legal tender coins meeting premium requirements

North Carolina

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive precious metals exemption
Coverage: Investment-grade metals and legal tender coins

North Carolina provides comprehensive exemptions for precious metals purchased for investment purposes, supporting the state’s favorable policies toward monetary metals.

North Dakota

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive exemption framework
Coverage: Gold, silver, platinum, and palladium products

North Dakota has established comprehensive exemptions for precious metals, recognizing their monetary nature and supporting investment in precious metals.

Ohio

Tax Status: Exempt for precious metals meeting purity requirements
Purity Standards: Gold ≥ 99.5%, Silver ≥ 99.9%, Platinum/Palladium ≥ 99.95%
Implementation: Strict purity requirements for exemption qualification
Coverage: High-purity investment-grade precious metals

Ohio maintains specific purity requirements for precious metals exemptions, ensuring that only investment-grade products qualify for favorable tax treatment.

Purity Requirements:

• Gold: Minimum 99.5% purity (≥ 0.995)
• Silver: Minimum 99.9% purity (≥ 0.999)
• Platinum: Minimum 99.95% purity (≥ 0.9995)
• Palladium: Minimum 99.95% purity (≥ 0.9995)

Taxable Products:

• Precious metals below purity requirements
• Numismatic coins valued for collectible properties
• Accessories and processed items

Exempt Products:

• High-purity bullion meeting state standards
• Investment-grade precious metals exceeding purity thresholds

Oklahoma

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive precious metals exemption
Coverage: Investment-grade metals and legal tender coins

Oklahoma provides comprehensive exemptions for precious metals purchased for investment purposes, supporting the state’s recognition of precious metals as monetary assets.

Oregon

Tax Status: No state sales tax
Local Taxes: No local sales taxes imposed
Special Considerations: Complete tax exemption for all products

Oregon does not impose sales tax at the state or local level, providing complete exemption for all precious metals transactions.

Pennsylvania

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive exemption for investment purposes
Coverage: Gold, silver, platinum, and palladium products

Pennsylvania provides comprehensive exemptions for precious metals purchased for investment purposes, supporting the state’s favorable policies toward monetary metals.

Rhode Island

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive precious metals exemption
Coverage: Investment-grade metals and legal tender coins

Rhode Island has established comprehensive exemptions for precious metals, recognizing their monetary nature and supporting investment in precious metals.

South Carolina

Tax Status: Partial Exemption
Local Sales Tax: Yes
Governing Authority: South Carolina Department of Revenue
Statutory Reference: S.C. Code Ann. § 12-36-2120(70)
Effective Date: January 1, 2016

South Carolina provides a sales tax exemption for gold, silver, and platinum bullion, as well as legal tender coins and currency. This exemption, effective since 2016, is specific and does not apply to all precious metals.

Important Note: The state exemption does not apply to palladium products, which are fully taxable.

Taxable Products:

• Palladium bullion and coins
• Accessories and storage items

Exempt Products:

• Gold, silver, and platinum bullion
• Legal tender coins and currency

South Dakota

Tax Status: No state sales tax
Local Taxes: Some municipalities may impose local sales taxes
Special Considerations: Verify local tax obligations with municipality

South Dakota does not impose state sales tax on any products. Some local jurisdictions may have sales tax ordinances, but these are limited in scope.

Tennessee

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive precious metals exemption
Coverage: Investment-grade metals and legal tender coins

Tennessee provides comprehensive exemptions for precious metals purchased for investment purposes, supporting the state’s favorable policies toward monetary metals.

Texas

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive exemption framework
Coverage: Gold, silver, platinum, and palladium products

Texas has established comprehensive exemptions for precious metals, recognizing their monetary nature and supporting investment in precious metals as part of the state’s sound money policies.

Utah

Tax Status: Partial Exemption
Local Sales Tax: Yes
Governing Authority: Utah State Tax Commission
Statutory References: Utah Code Ann. § 59-12-104(50) & (51)
Effective Date: 2012 (Specie Legal Tender Act)
Recent Updates: The Specie Legal Tender Act was amended in 2024 to explicitly exclude central bank digital currency from legal tender status.

Utah provides a sales tax exemption for currency, coins, and certain types of bullion. As a leader in sound money policies, Utah’s exemption has specific purity requirements for non-legal tender bullion.

Purity Requirement for Bullion:

• Gold, silver, or platinum ingots, bars, medallions, or decorative coins must have a purity of 50% or more.

Taxable Products:

• Bullion with a purity of less than 50%
• Accessories and storage items

Exempt Products:

• Currency or coins that are legal tender of any nation
• Gold, silver, or platinum ingots, bars, medallions, or decorative coins with a purity of 50% or more

Vermont

Tax Status: ⚠️ FULLY TAXABLE
Local Sales Tax: No
Governing Authority: Vermont Department of Taxes
Recent Updates: No sales tax exemption exists for precious metals in Vermont. All sales are subject to the state’s 6% sales tax.

Vermont imposes its 6% state sales tax on all precious metals transactions, with no exemptions for bullion or legal tender coins. All precious metals purchases shipped to Vermont are fully taxable.

Virginia

Tax Status: Partial Exemption with Sunset Provision
Local Sales Tax: Yes
Governing Authority: Virginia Department of Taxation
Statutory Reference: Va. Code Ann. § 58.1-609.1(18)
Expiration Date: July 1, 2026

Virginia provides a sales tax exemption for gold, silver, and platinum bullion and legal tender coins, but this exemption is scheduled to expire on July 1, 2026. The exemption was extended by the 2025 Appropriation Act, but it is not permanent.

Important Note: The state exemption does not apply to palladium products, which are fully taxable.

Taxable Products:

• Palladium bullion and coins
• Accessories and storage items

Exempt Products (until July 1, 2026):

• Gold, silver, and platinum bullion
• Legal tender coins

Washington

Tax Status: ⚠️ FULLY TAXABLE (Effective January 1, 2026)
Local Sales Tax: Yes
Governing Authority: Washington Department of Revenue
Statutory Reference: ESSB 5794 (Chapter 423, Laws of 2025)
Repeal Date: January 1, 2026

Washington State has repealed its sales tax exemption for precious metal bullion and monetized bullion, effective January 1, 2026. Until that date, the current exemption remains in effect.

Important Note: Starting January 1, 2026, all sales of precious metals will be subject to both state and local retail sales tax, as well as the Business and Occupation (B&O) tax.

Taxable Products (Effective January 1, 2026):

• All precious metals bullion and coins
• All monetized bullion

Exempt Products (Until December 31, 2025):

• Precious metal bullion and monetized bullion

Customers shipping to Washington should be aware of this significant upcoming change and may wish to consider timing of purchases accordingly.

West Virginia

Tax Status: Exempt for precious metals bullion and legal tender coins
Implementation: Comprehensive precious metals exemption
Coverage: Investment-grade metals and legal tender coins

West Virginia provides comprehensive exemptions for precious metals purchased for investment purposes, supporting the state’s recognition of precious metals as monetary assets.

Wisconsin

Tax Status: Partial Exemption
Local Sales Tax: Yes
Governing Authority: Wisconsin Department of Revenue
Statutory Reference: Wis. Stat. § 77.54(71)
Effective Date: March 23, 2024

Wisconsin enacted a sales and use tax exemption for precious metal bullion, effective March 23, 2024. This exemption has a specific purity requirement and includes copper in the list of qualifying metals.

Purity Requirement for Bullion:

• Coins, bars, rounds, or sheets must contain at least 35% gold, silver, copper, platinum, or palladium.

Taxable Products:

• Bullion that does not meet the 35% purity requirement
• Jewelry, works of art, scrap metal, or electronics
• Accessories and storage items

Exempt Products:

• Bullion (coins, bars, rounds, or sheets) with a purity of 35% or higher

Wyoming

Tax Status: No state sales tax
Local Taxes: Some counties and municipalities may impose local sales taxes
Special Considerations: Verify local tax obligations with local jurisdiction

Wyoming does not impose state sales tax on any products. Some local jurisdictions may have sales tax ordinances, but these are generally limited in scope and application.

Tax Optimization Strategies

Threshold Management

Many states impose minimum purchase thresholds for sales tax exemptions. Investors can optimize their purchases by ensuring transactions meet or exceed these thresholds. For example, California requires a $2,000 minimum for precious metals exemptions, while Connecticut requires $1,000 for gold and silver transactions.

When planning purchases, consider consolidating smaller orders into larger transactions that meet exemption thresholds. This strategy can result in significant tax savings, particularly in states with higher sales tax rates.

Geographic Considerations

Sales tax is determined by the shipping destination, not the seller’s location. Investors with flexibility in shipping addresses may benefit from understanding the tax implications of different delivery locations. States without sales tax (Alaska, Delaware, Montana, New Hampshire, Oregon, and Wyoming) offer complete exemption opportunities.

However, it is crucial to ensure that any shipping arrangements comply with applicable laws and that the recipient has legitimate reasons for receiving packages at the chosen address.

Product Selection

Different types of precious metals products may be subject to different tax treatments within the same state. Investment-grade bullion typically receives more favorable treatment than numismatic coins or processed items. Understanding these distinctions can help investors select products that minimize tax obligations.

For example, New York’s premium ratio system favors products with lower premiums over spot price, while Ohio’s purity requirements favor high-grade bullion over lower-purity alternatives.

Timing Considerations

Recent legislative changes in states like Maryland and Washington demonstrate the importance of timing in precious metals purchases. Investors may benefit from monitoring legislative developments and timing purchases to take advantage of favorable tax windows.

The precious metals industry has seen significant legislative activity in recent years, with many states moving toward more favorable tax treatment. However, some states have moved in the opposite direction, making timing an important consideration.

Professional Consultation

Given the complexity of sales tax laws and their frequent changes, investors making substantial precious metals purchases should consider consulting with tax professionals who specialize in precious metals transactions. Professional guidance can help ensure compliance while maximizing available tax benefits.

Recent Legislative Changes

The precious metals industry has experienced significant legislative activity in 2025, with several states implementing major changes to their sales tax policies. These changes reflect evolving attitudes toward precious metals as monetary assets and investment vehicles.

Major Changes in 2025

Washington – Exemption Repealed (Effective January 1, 2026)
Washington State has enacted legislation to repeal its long-standing sales tax exemption for precious metal bullion and monetized bullion. Effective January 1, 2026, all sales of precious metals will be subject to state and local retail sales tax, which can reach approximately 10%.

Maryland – Exemption Repealed (Effective July 1, 2025)
Maryland’s repeal of its precious metals sales tax exemption represents one of the most significant negative changes in recent years. House Bill 352, signed into law on May 20, 2025, eliminates the previous $1,000 threshold exemption and subjects all precious metals to the state’s 6% sales tax. The only remaining exemption applies to purchases made at the Baltimore Convention Center.

Virginia – Exemption Extended (Expires July 1, 2026)
Virginia has extended its sales tax exemption for gold, silver, and platinum bullion and legal tender coins. However, the exemption now has a sunset provision and is scheduled to expire on July 1, 2026.

New Jersey – Exemption Enacted (Effective January 1, 2025)
New Jersey has enacted a new sales tax exemption for precious metals, effective January 1, 2025. The exemption applies to gold, silver, platinum, and palladium bullion and legal tender coins with a transaction value of $1,000 or more.

Alabama – Legal Tender Reaffirmation (Effective April 10, 2025)
Alabama Governor Kay Ivey signed Senate Bill 130 on April 10, 2025, reaffirming gold and silver as legal tender for voluntary transactions. This represents the third major sound money bill passed in Alabama since 2018, following the elimination of sales tax and capital gains tax on precious metals.

Florida – Future Legal Tender Status (Effective July 1, 2026)
Governor Ron DeSantis signed HB 999, recognizing gold and silver coins as legal tender for debts incurred after July 1, 2026. While this does not immediately change the state’s current sales tax policy, it represents a significant step toward broader precious metals recognition.

Trends in Precious Metals Legislation

The legislative landscape for precious metals continues to evolve, with several notable trends emerging:

Sound Money Movement: Many states are implementing comprehensive sound money policies that include sales tax exemptions, capital gains tax relief, and legal tender recognition for precious metals.

Investment Recognition: States increasingly recognize precious metals as legitimate investment vehicles deserving of favorable tax treatment, similar to other financial instruments.

Economic Development: Some states view precious metals exemptions as economic development tools that attract businesses and investors to their jurisdictions.

Federal Influence: Federal monetary policy and economic conditions continue to influence state-level attitudes toward precious metals and related tax policies.

Monitoring Legislative Changes

Given the dynamic nature of precious metals legislation, GR Reserve maintains ongoing monitoring of legislative developments across all states where we conduct business. Our commitment to accuracy includes regular updates to reflect new laws, regulatory changes, and implementation dates.

Customers are encouraged to verify current tax obligations before making purchases, particularly in states that have recently implemented changes or where legislation is pending.

Frequently Asked Questions

General Sales Tax Questions

How is sales tax calculated on precious metals purchases?
Sales tax is calculated based on the taxable portion of your order and the tax rate applicable to your shipping destination. The tax rate includes state sales tax plus any applicable local taxes. Only products that are subject to tax in your state will be included in the taxable amount.

Can I avoid sales tax by shipping to a different state?
Sales tax is determined by the shipping destination, not the seller’s location. While shipping to a state without sales tax or with favorable exemptions may reduce tax obligations, you must have a legitimate reason for shipping to that address and comply with all applicable laws.

Do I need to pay use tax if I purchase from a state without sales tax?
Use tax obligations vary by state and individual circumstances. Some states require residents to pay use tax on purchases made from out-of-state sellers when sales tax was not collected. Consult with a tax professional regarding your specific use tax obligations.

How often do sales tax laws change?
Sales tax laws can change frequently, with states regularly updating their policies regarding precious metals. GR Reserve monitors these changes and updates our information regularly, but customers should verify current requirements before making purchases.

Product-Specific Questions

What is the difference between bullion and numismatic coins for tax purposes?
Bullion derives its value primarily from precious metal content, while numismatic coins have additional value from rarity, condition, or historical significance. Many states provide exemptions for bullion while taxing numismatic coins. The classification can affect tax treatment significantly.

Are all government-issued coins considered legal tender for tax purposes?
Not necessarily. While many government-issued precious metals coins qualify as legal tender, some states have specific requirements about which coins qualify for exemptions. The coin must typically be recognized as legal tender by the issuing government and meet other state-specific criteria.

How are premium ratios calculated in states like New York?
Premium ratios are calculated by comparing the selling price to the spot price of the underlying metal. For example, if silver spot price is $25 and a coin sells for $30, the premium is 20% ($5/$25). New York allows premiums up to 140% for silver to qualify for exemption.

Threshold and Exemption Questions

How are thresholds calculated for states with minimum purchase requirements?
Threshold calculations vary by state. Some states calculate based on the total transaction value, others on the subtotal of qualifying products, and some on individual item values. The specific calculation method is detailed in each state’s section above.

Can I combine multiple small orders to meet threshold requirements?
Generally, no. Threshold requirements typically apply to individual transactions, not cumulative purchases over time. Each order is evaluated separately for threshold compliance.

What happens if part of my order is exempt and part is taxable?
Tax is calculated only on the taxable portion of your order. Exempt products are excluded from the tax calculation, and you pay tax only on items that are subject to tax in your state.

Recent Changes Questions

How do the recent changes in Maryland affect my purchases?
Effective July 1, 2025, all precious metals shipped to Maryland addresses are subject to 6% state sales tax. The previous $1,000 exemption threshold has been eliminated. The only exception is for purchases made at the Baltimore Convention Center.

When will Washington State start taxing precious metals?
Washington has enacted legislation repealing precious metals exemptions effective January 1, 2026. Starting on that date, all precious metals purchases will be subject to state and local sales tax.

Does New Jersey’s new exemption apply to all precious metals?
New Jersey’s exemption applies to gold, silver, platinum, and palladium bullion and coins with individual fair market value of $1,000 or more. Items below this threshold remain taxable, as do accessories and processed items.

Additional Questions

What is the difference between bullion, numismatic coins, and accessories?
Bullion refers to precious metals in a bulk, un-fabricated form, such as bars, rounds, or ingots, where the value is primarily based on the metal content, not the form. Numismatic coins are coins whose value is determined by their rarity, condition, and historical significance, in addition to their metal content. Accessories include items used to store, protect, or display precious metals, such as capsules, tubes, and storage boxes. Tax laws often treat these categories differently.

If a state has a sales tax exemption, does that apply to local sales taxes?
Not always. In some states, a state-level sales tax exemption for precious metals does not prevent local jurisdictions (cities, counties) from imposing their own sales taxes. Our guide indicates whether local sales taxes may apply in each state.

Why do some states exempt precious metals from sales tax?
Many states exempt precious metals from sales tax to encourage investment and recognize their role as a store of value and a form of currency. Some states have conducted economic studies showing that exempting precious metals from sales tax can increase overall economic activity and tax revenue by attracting investment and creating a more competitive business environment for precious metals dealers.

How does the South Dakota v. Wayfair Supreme Court decision affect sales tax on precious metals?
The Wayfair decision allows states to require online retailers to collect and remit sales tax even if they do not have a physical presence in the state. This means that for states that tax precious metals, online retailers like GR Reserve are required to collect sales tax based on the shipping destination.

Can I avoid sales tax by having my precious metals shipped to a depository?
Shipping to a depository in a state with a sales tax exemption can be a viable strategy for tax planning. However, you must ensure that the depository arrangement is structured correctly to comply with all applicable laws. Consult with a tax professional to understand the implications of using a depository for your specific situation.

The Economic Reasoning Behind Precious Metals Sales Tax Exemptions

The growing trend of states exempting precious metals from sales tax is rooted in sound economic principles. Many states have recognized that taxing precious metals, which are often held as a store of value and a form of currency, can be counterproductive. Here are some of the key economic arguments that have led to these exemptions:

Promoting Investment and Economic Activity

Sales tax exemptions for precious metals can attract significant investment to a state. When investors can purchase bullion and coins without the added cost of sales tax, they are more likely to do so within that state, rather than seeking out-of-state dealers or alternative investment vehicles. This influx of capital can stimulate local economies and create a more favorable business environment.

Leveling the Playing Field

Many states have enacted exemptions to remain competitive with neighboring states that already have such laws in place. When one state taxes precious metals and another does not, dealers in the taxing state are at a significant disadvantage. They often lose business to out-of-state competitors, which can lead to a decline in local economic activity and tax revenue.

Recognizing Precious Metals as a Monetary Asset

A growing number of states are recognizing that precious metals are not just commodities, but also a form of money. Taxing the exchange of one form of currency for another (e.g., U.S. dollars for gold coins) is seen by many as an illogical and unfair practice. By exempting precious metals from sales tax, states are acknowledging their unique role as a monetary asset and a hedge against inflation.

Important Legal Disclaimers

General Disclaimer

The information provided in this guide is for general informational purposes only and does not constitute legal, tax, or financial advice. Sales tax laws are complex, subject to frequent change, and their application can vary based on numerous factors, including but not limited to:

• Product Type: (e.g., bullion vs. numismatic coins vs. accessories)
• Purity Levels: (e.g., 90% vs. 99.9%)
• Transaction Thresholds: (e.g., purchases over $1,000)
• Local vs. State Tax: (state-level exemptions may not apply to local taxes)
• Sunset Provisions: (exemptions that are scheduled to expire)

GR Reserve strives to provide accurate and up-to-date information. However, we cannot guarantee the completeness or accuracy of this guide. It should not be used as the sole basis for tax compliance decisions.

Professional Consultation Recommended

Customers making substantial precious metals purchases or those with complex tax situations should consult with qualified tax professionals who specialize in precious metals transactions. Professional guidance can help ensure compliance with applicable laws while maximizing available tax benefits.

Tax professionals can provide personalized advice based on individual circumstances, including considerations for use tax obligations, business purchases, and investment strategies that may affect tax treatment.

Information Currency and Updates

Sales tax laws and regulations change frequently, and new legislation can affect tax obligations with little advance notice. While GR Reserve monitors legislative developments and updates this information regularly, there may be delays between when changes take effect and when our information is updated.

Customers are encouraged to verify current tax obligations with appropriate state and local tax authorities before making purchases, particularly for large transactions or in states that have recently implemented changes.

State-Specific Disclaimers

Maryland: The information regarding Maryland’s sales tax repeal is based on House Bill 352 as signed into law on May 20, 2025. Customers should verify current implementation status with the Maryland Comptroller’s office, as administrative procedures may affect the timing and application of the new tax requirements.

Washington: Washington’s precious metals tax changes take effect January 1, 2026, based on ESSB 5794. Customers should monitor official state communications for any implementation details or procedures.

Virginia: The extension of Virginia’s precious metals exemption is based on Item 3-5.25 of the 2025 Appropriation Act. Customers should verify current status with the Virginia Department of Taxation, as additional legislative action may affect the exemption’s duration.

Limitation of Liability

GR Reserve shall not be liable for any errors or omissions in the information provided, nor for any losses or damages arising from reliance on this information. Customers are responsible for understanding and complying with all applicable tax laws and regulations.

The company reserves the right to collect sales tax as required by law, regardless of any information provided on this page. Tax collection practices may change based on new legal requirements, regulatory guidance, or changes in business operations.

Product Classification Disclaimers

The classification of precious metals products for tax purposes can be complex and may depend on factors including purity, government recognition, intended use, and premium over spot price. Product classifications provided are based on general industry standards and state regulations but may not apply in all circumstances.

Customers should be aware that product classifications can affect tax treatment and should verify the tax status of specific products with appropriate authorities when in doubt.

Account Numbers and Registration Information

Account numbers and tax registration information provided are current as of the date indicated but may change due to administrative updates or regulatory requirements. Customers requiring verification of current registration status should contact the appropriate state tax authorities directly.

Updates and Modifications

This information is subject to change without notice. GR Reserve reserves the right to modify, update, or correct any information provided based on new legal requirements, regulatory guidance, or changes in business operations.

Customers are encouraged to review this information regularly and to verify current requirements before making purchases.

Contact Information

Customer Service

For questions about sales tax obligations, product classifications, or order-specific tax calculations, please contact our customer service team:

Phone: +1 (508) 226-2000
Email: [email protected]
Hours: M-F, 8 a.m.–5 p.m. ET

Our customer service representatives can provide information about tax obligations for specific orders and help clarify product classifications for tax purposes.

State Tax Authorities

For definitive information about tax obligations in specific states, customers may contact the appropriate state tax authorities directly. The following states are featured due to recent legislative changes, complex tax requirements, or significant customer interest:

Alabama Department of Revenue

Website: https://www.revenue.alabama.gov/
Phone: 334-242-1170

Featured for recent sound money legislation and account verification requirements

California Department of Tax and Fee Administration

Website: https://www.cdtfa.ca.gov/
Phone: 1-800-400-7115

Featured for complex threshold calculations and large market presence

Maryland Comptroller of Maryland

Website: https://www.marylandtaxes.gov/
Phone: 410-260-7980 or 1-800-638-2937

Featured for major 2025 exemption repeal requiring immediate customer attention

New Jersey Division of Taxation

Website: https://www.nj.gov/treasury/taxation/
Phone: 609-292-6400

Featured for positive 2025 exemption creation benefiting precious metals investors

New York State Department of Taxation and Finance

Website: https://www.tax.ny.gov/
Phone: 518-457-5181

Featured for sophisticated premium ratio system requiring specialized guidance

Virginia Department of Taxation

Website: https://www.tax.virginia.gov/
Phone: 804-367-8031 (Individuals) / 804-367-8037 (Businesses)

Featured for recent exemption extension and ongoing legislative developments

Washington State Department of Revenue

Website: https://dor.wa.gov/
Phone: 360-705-6705 (Tax Assistance) / 1-800-647-7706 (General)

Featured for upcoming exemption repeal requiring customer preparation

Contact information for additional states is available upon request.

Professional Resources

For customers seeking professional tax advice, we recommend consulting with:

• Certified Public Accountants (CPAs) specializing in precious metals
• Tax attorneys with experience in sales and use tax matters
• Financial advisors familiar with precious metals investments

Professional consultation is particularly recommended for:

• Large or frequent precious metals purchases
• Business-related precious metals transactions
• Complex multi-state tax situations
• Investment strategies involving precious metals

Feedback and Suggestions

We welcome feedback about this information and suggestions for improvements:

Email: [email protected]

Your input helps us maintain accurate and useful information for all customers.

This document was last updated on November 4, 2025. Information is subject to change based on new legislation, regulatory guidance, and administrative updates. Customers should verify current requirements before making purchases.

Document Version: 2025.11.01
Next Scheduled Review: December 1, 2025