Massachusetts Precious Metal Sales Taxes
At a Glance: Taxable Precious Metal Products in Massachusetts
Dealers are required to collect state sales taxes on certain precious metal products shipped to Massachusetts. The following product categories are taxable in Massachusetts:
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- Copper, Palladium, and Platinum Products.
- Certain Purchases Worth Less Than $1,000.
- Accessories.
- Processed Bullion.
How Does Massachusetts Tax Precious Metals?
Hero Bullion automatically tabulates and applies state sales taxes to all bullion purchases. If you order gold, silver, or any other precious metal from us, we will charge the relevant tax fees to you during the checkout process. While this makes it easy for consumers to pay their share of sales taxes without stress, we realize that you might still have questions about how taxation works in your state.
Massachusetts residents should be aware that the state does charge a tax on certain bullion products – but not all. The number of categories for which taxes must be collected is a bit higher in Massachusetts than some other states. This brief guide will explain which types of products must be taxed when shipped to an address in Massachusetts.
In Massachusetts, both the total value of a bullion sale and the specific types of items purchased impact the taxability of your order. The most important monetary value to remember is $1,000. With a few exceptions, single transactions costing over $1,000 USD are not subject to sales taxes.
The following items are always taxable in Massachusetts, regardless of monetary value:
| Taxable Product | Definition |
|---|---|
| Copper, Palladium, and Platinum Products | Any product primarily composed of any of these three metals are considered taxable in Massachusetts. |
| Certain Purchases Below $1,000 | Numismatic coins, non-numismatic coins, and legal tender bullion products are taxable in Massachusetts only if the order total is more than $1,000. |
| Accessories | Accessories, such as coin flaps, storage units, or cleaners, are always taxable in Massachusetts. |
| Processed Bullion | Processed bullion, including all items that are sent to a third party in order to be altered and add value to the principal precious metal content of the product, are taxed in this state. |
How Does Hero Bullion Calculate Sales Taxes in Massachusetts?
Hero Bullion will automatically apply all relevant state sales taxes based on the shipping address you provide us at checkout. If you have question or think we’ve made a mistake calculating your sales tax fees, contact our customer support team.
Questions about Massachusetts’ bullion tax regulations should be directed to the state’s Department of Revenue, which is located here.