TAX on selling in the USA

[ChrisSilver]

This topic is intended as a reference guide and is correct at the time of writing as far as our knowledge, however the below does not constitute as legal or tax advice, and we advise you to seek the correct advice in regards to your taxes. If tax is applicable for a sale, it is the sole responsibility for the seller to file their taxes and comply with any relevant laws.

There is requirement for the seller to collect and remit sales tax based upon the address the items are being shipped to. Note the seller is required based upon the shipping address, no matter what the buyer may claim his residence, and so forth. Most states do not require tax on silver and gold.

States without TAX 

The majority of US states do not impose any tax for selling silver. There are 31 states who do not impose any tax at all, the following list is of states that taxes do not apply in (remember it is the shipping address that counts, not the sellers address nor recipients home address, just the shipping address) 

Alabama 
Alaska 
Arizona 
Colorado 
Delaware 
Florida 
Georgia 
Idaho 
Illinois
Indiana 
Iowa 
Kansas 
Louisiana 
Michigan 
Missouri 
Montana
Nebraska 
Nevada 
New Hampshire 
North Carolina 
North Dakota 
Oklahoma 
Oregon 
Pennsylvania
Rhode Island 
South Carolina 
South Dakota 
Texas 
Utah 
Washington 
West Virginia 
Wyoming

States with TAX

States that require tax on silver and gold: Arkansas, District of Columbia, Hawaii, Kentucky, Maine, Minnesota, Mississippi, New Jersey, New Mexico, Ohio, Tennessee, Vermont, and Wisconsin. Those are the "evil 13"

 

States without tax if the sale value is at or above these amounts:
If the shipping address is to one of these states, then a transaction of the value or over will mean that no taxes are due by the seller. 

California : sales of silver and gold are exempt only if the transaction is $1,500 or more.
Connecticut : sales of silver and gold are exempt only if the transaction is $1,000 or more.
Maryland : sales of silver and gold are exempt only if the transaction is $1,000 or more.
Massachusetts : sales of silver and gold are exempt only if the transaction is $1,000 or more.
New York : sales of silver and gold are exempt only if the transaction is $1,000 or more.
Virginia : sales of silver and gold are exempt only if the transaction is $1,000 or more.


Conclusion

So a person can conduct tax-free sales between people in most states. Some sellers want to avoid collecting tax, and therefore do not ship to the "evil 13." Some sellers also do not want to handle a tax transaction in states that have a threshold limit, and that's another six states.

This information was provided by @DoubleEagle, thank you for providing this valuable information.

Please let us know if any additional information should be added to this reference list  

Disclaimer: Should you believe any of the information here is incorrect or out of date please do contact us with links to sources so we can validate and update the info here if needed. Again, this information is intended for informational purposes and does not constitute as tax or legal advice, although we believe the information is correct at the time of writing there may be errors and TSF can not be held responsible for any incorrect or out of date information.

[ChrisSilver]

USA Import Tax on Precious Metals 

From our understanding, at the time of writing there is currently no import tax on bullion precious metals imported into the USA. Please refer to the United States International Trade Commission website here https://hts.usitc.gov/current and scroll down to Section 71, which relates to Precious Metals. 

Disclaimer: This information is intended for rough guidance only and does not constitute as tax or legal advice, although we believe the information is correct at the time of writing there may be errors and TSF can not be held responsible for any incorrect or out of date information. The customs forms must also be filled out correctly by the sender. Members should seek the advise of professionals in regards to the correct import costs and charges and to discuss with tax advisors, import advisors and relevant professionals.