Utah Precious Metal Sales Taxes

 

How Does Utah Tax Precious Metals?

Please know that Hero Bullion is required to collect sales taxes on certain bullion items shipped to addresses within the state of Utah. We automatically calculate these taxes when you checkout, and we use the shipping address you provide to do this. In Utah, there are five categories of products for which sales taxes must be collected: copper or palladium bullion items; gold, silver, or platinum items with a purity of less than 50%; non-tender numismatic coins; accessories; and processed bullion items. 

We’ve compiled the following definitions to help better explain how Utah taxes bullion items:

Taxable Product	Definition
Copper and Palladium Products	Any product made with either copper or palladium is considered taxable in the state of Utah.
Low Purity Bullion (<.50)	Bullion products with a purity of less than .50, or 50%, are subject to sales tax collection in Utah.
Non-Tender Coins	Coins are considered legal tender if sellers of products or services are required to accept them as payment. Coins that are not legal tender are taxed in Utah.
Some Paper Currency	Paper currencies no longer circulating as a legal means of exchange are considered taxable in Utah.
Accessories	Accessory items are not made from bullion but are used to help store, clean, or otherwise alter bullion products. Accessories are taxed by the state of Utah.
Bullion Products	A processed bullion item is one that has been sent to a third party in order to add additional value beyond its precious metal content. Processed bullion products include colorized coins, for example, and are subject to sales tax collection in Utah.

How Does Hero Bullion Calculate Sales Taxes in Utah? 

Hero Bullion collects sales taxes for products shipped to Utah addresses at checkout. We alter this tax cost to accurately reflect the jurisdiction in which your address is located. For questions about how we assess your sales tax burden, contact our customer support team. 

Specific questions and concerns about Utah’s bullion tax laws can be directed to the state’s State Tax Commission.