Sales Tax Law:
Omnibus bill H.F. No. 1 into law. Section 17 of H.F. No. 1 provides a sales tax exemption for precious metals bullion.
“Precious metal bullion” is defined as “bars or rounds that are at least 99.9% gold, silver, or platinum by weight, and are marked for weight, purity, and content. Jewelry, works of art, and scrap metal are not exempt.” Minnesota Sales Tax on Gold & Silver Bullion / Coins
Rules and Regulations for the State of Minnesota
NPMEX currently does not ship any products to the state of Minnesota.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Please Note: The above is not a comprehensive description of sales tax laws and requirements in the state of Minnesota. 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 Minnesota that relate to the reader’s transactions with NPMEX. If you would like to research the sales tax laws and requirements in the state of Minnesota, we suggest you visit the Minnesota department of revenue located at https://www.revenue.state.mn.us/Pages/default.aspx.