Nevada Precious Metal Sales Taxes

 

How Does Nevada Tax Precious Metals?

Bullion items shipped to the state of Nevada might be subject to sales tax. Hero Bullion always calculates the amount of tax you owe at checkout, and we tailor this amount to adhere to laws in your shipping address’ jurisdiction. 

Nevada’s bullion tax laws are similar to most states we ship to, but the state does draw an important distinction between two categories of bullion items. For Nevada, the key determining factor in whether or not a bullion product can be taxed is its use as a medium of exchange. If a product is used as a medium of exchange, then it is not subject to taxation. Any products that are not used as a medium of exchange are taxed in the state. 

First, here’s a list of the product types that are always taxed in Nevada, regardless of whether or not they are considered a medium of exchange:

Taxable Product	Definition
Copper Products	Any product made primarily of copper is taxed in Nevada.
Accessories	Accessories, such as bullion holders, displays, or cleaners, are taxed.
Processed Bullion	Bullion products shipped to a third party for additional processing are a taxable product in Nevada.

How Does Hero Bullion Calculate Sales Taxes in Nevada? 

Coins and bars that are used as a medium of exchange are untaxed, while products that are not considered mediums of exchange are taxed in Nevada. 

A product is considered a medium of exchange if it is an acceptable way to purchase goods or services. 

If you have concerns about how we calculated taxes on your Nevada bullion order, please contact our support team. For more information about Nevada’s taxation regulations concerning bullion products, visit the state’s Department of Taxation website.