Arizona sales Tax laws on Gold & Silver Bullion / Coins
Rules and Regulations for the State of Arizona
Sales Tax Law:
According to Arizona statute 42-5061, “the sale of precious metal bullion and monetized bullion to the ultimate consumer” is exempt from sales taxation in the state of Arizona.
“Monetized bullion” is defined as “coins and other forms of money that are manufactured from gold, silver, or other metals and that have been or are used as a medium of exchange in this or another state, the United States or a foreign nation.”
“Precious metal bullion” is defined as “precious metal including gold, silver, platinum, rhodium, and palladium, that has been smelted or refined so that its value depends on its contents and not on its form.”
CPMEX is required to collect tax on some items shipping to Arizona, however sales tax will not be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Arizona address.
The State of Arizona requires the collection of sales taxes (also known as Transaction Privilege Tax or TPT) on certain products sold by CPMEX and delivered to a Arizona address. These taxes must be collected on (1) copper products; (2) accessory items; and (3) processed items. All other products sold by CPMEX are exempt from these taxes.
The following definitions apply to products on which taxes must be collected in Arizona:
Accessory Items: Items such as holders, tubes, coin flips, and gloves.
Processed Items: Precious metals that have been processed by third parties into items that are valued on more than their precious metal content, such as statues or colorized coins.
Sales taxes in Arizona are calculated at checkout on the CPMEX website based on (1) the taxability of products sold by CPMEX in Arizona set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Arizona
Capital Gains Tax
Under current law, gold and silver are not 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 Arizona. 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 Arizona that relate to the reader’s transactions with CPMEX. If you would like to research the sales tax laws and requirements in the state of Arizona, we suggest you visit the Arizona department of revenue located at https://azdor.gov/.
Buying Gold and Silver in Arizona
Buying precious metals from online dealer CPMEX has some major advantages. Though CPMEX is physically located in Erie Colorado, we ship all over the United States, every day.
CPMEX offers a huge selection of coin and bullion products for Arizona residents to choose from. Buyers can shop by metal type or by form such as coin, round or bar. In addition to potential cost savings, shopping online at CPMEX is convenient and can be done from the comfort of your own home or office. Simply pick the coin or bullion products you want to buy, complete the simple checkout process, and your metals will be quickly shipped to your home or other destination of choice. Your precious metals purchases are fully insured and tracked while in transit.
Benefits to buying gold & silver online at CPMEX.co :
Gold and silver shipped directly to your door
Lower prices than most physical coin stores
24/7 online ordering 365 days a year
Friendly & knowledgeable customer service
Because online precious metals dealer CPMEX may have lower overhead than brick and mortar coin shops, we are be able to pass savings on to our customers. CPMEX offers some of the lowest prices available for precious metals.
CPMEX is proud to serve the residents of Arizona, and offers a great value and buying experience.