Precious metal purchases are increasingly subject to state sales tax. The tax requirements vary by state and by the type of products you order. We predict all 50 states eventually will have some sort of sales tax collection on precious metal deliveries.
Since you are making your precious metals purchase digitally through OneGold, your entire purchase is tax- free. This provides you with considerable savings since taxes can vary between 8% and 10% of your overall purchase.
Why Sales Tax-Free?
Current state tax rules assess sales tax on physical goods delivered to the customer. Since you are not taking direct possession of the precious metal, then sales tax does not apply.
What About Redemption?
When you are ready to sell, you can choose from a variety of physical products to redeem your digital holdings, which will be delivered to your doorstep. It is on this deliver a sales tax may be assessed. If you need more information please contact us at [email protected] or call us at 1-800-492-9144