Idaho Precious Metal Sales Taxes

 

How Does Idaho Tax Precious Metals?

Idaho tax laws concerning bullion purchases are relatively straightforward. Understanding how taxes apply to your order on HeroBullion.com shouldn’t be a difficult task, especially since we automatically determine all relevant sales taxes after you provide your address at checkout. However, we understand that some consumers want to know the reasoning behind the tax fees we collect on various bullion products. 

Legislators in Idaho have decided that three main categories of precious metal products must be taxed. Hero Bullion is legally obligated to collect sales tax on items that constitute certain numismatic products, accessories, and processed items. 

Brief descriptions of these three categories can be found below:

Taxable Product	Definition
Some Numismatic Items	In Idaho, coins, medallions, and other metal products that commemorate historical events are taxable – all other numismatic items are not.
Accessories	Generally, any item that is sold to bullion collectors but is not itself made of bullion can be considered an accessory. Some common accessory items include coin flips and coin cleaners. Accessories are taxable in Idaho.
Processed Bullion	Bullion products are either sold directly after smelting or sent to a third-party for additional processing. This secondary processing adds value to the original value of the bullion product. If your bullion product has been processed by a third party, it is taxable under this category in Idaho.

How Does Hero Bullion Calculate Sales Taxes in Idaho? 

When you provide us an Idaho shipping address at checkout, we automatically apply all relevant state sales taxes and add these fees to your order total. 

More information about Idaho’s tax stance on bullion products can be found on the website for the Idaho State Tax Commission. We are always happy to answer any questions you may have about how we calculate taxes on our website.