Nevada Precious Metals Tax Information
The state of Nevada requires the collection of sales taxes on certain products sold by APMEX and delivered to a Nevada address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Nevada. It is only intended to provide the reader with a brief overview of those sales tax laws and requirements currently in effect in the state of Nevada that relate to the reader’s transactions with APMEX.
What Precious Metals Are Taxed?
Taxes must be collected on Copper products, coins not used as mediums of exchange, bullion not used as a medium of exchange, accessory items and processed items. All other products sold by APMEX are exempt from these taxes.
Taxable Products in Nevada
The following definitions apply to products on which these taxes must be collected in Nevada:
- Coins or Bullion Which Are Not Used As Mediums of Exchange. Coins, bullion or currency not accepted as a measure of value and a standard of exchange for goods and services.
- Accessory Items. Items such as holders, tubes or coin flips.
- Processed Items. Precious Metals that have been processed by third parties into items valued on more than their Precious Metal content, such as jewelry, statues or colorized coins.
How Does Nevada Calculate Precious Metals Taxes?
Sales taxes in Nevada are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Nevada set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Nevada.APMEX began collecting sales taxes in Nevada in October 2018.