Massachusetts Precious Metals Tax Information
The state of Massachusetts requires the collection of taxes on certain products sold by APMEX and delivered to a Massachusetts address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Massachusetts. 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 Massachusetts that relate to the reader’s transactions with APMEX.
What Precious Metals Are Taxed?
Taxes must be collected on Copper products, Platinum bullion products, Palladium bullion products, any single transaction less than $1,000, accessory items and processed items. All other products sold by APMEX are exempt from these taxes.
Taxable Products in Massachusetts
The following definitions apply to products on which these taxes must be collected in Massachusetts:
- 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 Massachusetts Calculate Precious Metals Taxes?
Taxes in Massachusetts are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Massachusetts set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Massachusetts.APMEX began collecting taxes in Massachusetts in August 2018.