Kansas Precious Metal Sales Taxes

 

How Does Kansas Tax Precious Metals?

While some bullion products are taxable in Kansas, others are not. This brief page will outline the basic rules behind how Kansas applies state taxes to bullion purchases. In compliance with Kansas state law, we will collect all relevant sales taxes on products sold and delivered to addresses within the state. 

In Kansas, taxes must be collected for the following product categories: coins, numismatic products, certain currency products, accessories, and processed bullion items. 

Here’s a brief overview of how Kansas defines its taxable precious metal products: 

Taxable Product	Definition
Copper Products	Regardless of the amount of money spent on the sale or the type of product sold, all products composed primarily of copper bullion are taxable in Kansas. Copper coins, bars, and statues all fall under this category.
Precious Metal Coins	Coins made of any precious metal are taxed in Kansas.
Accessories	Items used to store, maintain, or display precious metals are taxable in Kansas.
Processed Bullion	Precious metals that have been sent to a third party and altered to give them additional value are processed and considered taxable in Kansas.

How Does Hero Bullion Calculate Sales Taxes in Kansas? 

The good news is that all products that fall outside of these three categories are tax-free within Kansas. While bullion collectors might still be liable for federal taxes when they sell their bullion investments, Hero Bullion is not obligated to collect state taxes upon the sale of most bullion products shipped to Kansas addresses. 

It is also important for bullion consumers to know that tax rates vary from jurisdiction to jurisdiction in Kansas. This requires no additional work on your part; we automatically adjust your tax burden at checkout based on the address you provide to us.

More information about how Kansas taxes precious metals can be found on the state’s Department of Revenue website.