Rhode Island Precious Metals Tax Information
The state of Rhode Island requires the collection of sales taxes on certain products sold by APMEX and delivered to a Rhode Island address.
Please Note: The below is not a comprehensive description of sales tax laws and requirements in the state of Rhode Island. 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 Rhode Island that relate to the reader’s transactions with APMEX.
What Precious Metals Are Taxed?
Taxes must be collected on paper currency, Copper products, accessory items and processed items. All other products sold by APMEX are exempt from these taxes.
Taxable Products in Rhode Island
The following definitions apply to products on which these taxes must be collected in Rhode Island:
- Paper Currency. Legal tender no longer in circulation in the form of paper bills.
- 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 Rhode Island Calculate Precious Metals Taxes?
Sales taxes in Rhode Island are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Rhode Island set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Rhode Island.APMEX began collecting privilege taxes in Rhode Island in August 2018.