Alabama Precious Metals Tax Information
The state of Alabama requires the collection of a flat-rate Simplified Sellers Use Tax of 8% on certain products sold by APMEX and delivered to an Alabama address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Alabama. 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 Alabama that relate to the reader’s transactions with APMEX.
What Precious Metals Are Taxed?
Taxes must be collected on Copper products, certain bullion items less than .90 fine, certain numismatic products, foreign or non-circulating coins, accessory items and processed items. All other products sold by APMEX are exempt from these taxes.
Taxable Products in Alabama
The following definitions apply to products on which these taxes must be collected in Alabama:
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- Numismatic Products. Products with an external value above and beyond the base value of the underlying Precious Metal, due to the item’s rarity, condition, age or other external factor.
- Foreign or Non-circulating Coins. Coins not used as a circulating medium of exchange in the United States.
- 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 Alabama Calculate Precious Metals Taxes?
According to Alabama law (Rule 810-6-2-.90.02 Simplified Sellers Use Tax Remittance Program), APMEX is required to notify its Alabama customers of the following:
- APMEX, Inc. has collected the Simplified Sellers Use Tax on certain transactions delivered into Alabama and the tax will be remitted on the customer’s behalf to the Alabama Department of Revenue.
- APMEX, Inc.’s program account number is SSU-R010088837
Taxes in Alabama are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Alabama set forth above and (2) the Alabama Simplified Sellers Use Tax rate of 8%.
APMEX began collecting taxes in Alabama in October 2018.