Iowa Sales Tax for Precious Metals
As defined in state code IAC 403.3(91)(a), the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to an Iowa address:
Legal tender coins made of gold, silver, or other metals;
Legal tender currency made of paper;
Refined gold, silver, platinum, or palladium bullion bars, ingots, or medallions, sold according to its precious metal content and not form.
All other bullion or numismatic items and accessories sold by Gainesville Coins are subject to Iowa state sales tax.
Our tax ID number is S00114059.
Iowa Tax Code - Sales Tax Exemptions For Precious Metals
IAC 403.3(91)(a) Sales Tax Exemptions For Precious Metals and Currency.
The following is from IAC 403.3(91) re: exemptions from Iowa sales tax :
91.a. The sales price from the sale of coins, currency, or bullion.
b. For purposes of this subsection:
(1) “Bullion” means bars, ingots, or commemorative medallions of gold, silver, platinum, palladium, or a combination of these where the value of the metal depends on its content and not the form.
(2) “Coins” or “currency” means a coin or currency made of gold, silver, or other metal or paper which is or has been used as legal tender.
Tax By State
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia