Hawaii Tax Regulations for Precious Metals
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Hawaii Sales Tax for Precious Metals

Published: April 23, 2020

The state of Hawaii does not have a sales tax. Hawaii has a general excise tax (GET) which is imposed on gross income derived from business activity in Hawaii. Unlike a sales tax, which is imposed on the buyer and sellers are required to collect from their customers, the GET is imposed on the seller, but sellers are not required to collect GET from their customers. However, a business may recover its GET expense by visibly passing on its GET expense to its customers.

For GET purposes, the sale of gold, silver, and numismatic coins and bills which are bought and sold as commodities rather than for use as current money are considered the sale of tangible personal property and, thus, the gross proceeds for those sales are subject to the GET.

ALL items sold by Gainesville Coins are subject to Hawaii General Excise Tax when shipped to an address in Hawaii.

Our Hawaii Tax ID Number is GE-135-345-8688-01. Effective 10/01/2019.

Posted In: tax