Georgia Precious Metals Tax
What Precious Metals Are Taxed in Georgia?
According to the laws of Georgia, the above is a trick question. Because only one precious metal is subject to taxation in Georgia. That lonely honor falls to Palladium.
Bullion qualifies for Georgia sales tax exemption, if:
Under Ga. Code § 48-8-3 (66) and (67) sales and use taxes do not apply to sales of gold, silver, or platinum bullion or any combination of them; or to the sales of coins or currency; provided that dealer maintains proper documentation. Which is all the more reason to shop with Safe Haven Metal LLC, as we only deal with properly documented precious metals.
All Precious Metal Products in Georgia fall under Commodity Laws
Even though palladium was left off of the tax exemption list, it still finds a home in the definition of commodity.
Ga. Code § 10-5A-1 (12) (“‘Precious metal’ means the following in either coin, bullion, or other form: (A) Silver; (B) Gold; (C) Platinum; (D) Palladium; (E) Copper; and (F) Such other items as the Commissioner may specify by rule, regulation, or order.”)
In Georgia, just like most states commodity contracts are illegal. Unless the terms of the agreement require the full delivery of all precious metals ordered within 29 days from the payment in good funds of the purchase price. (Ga. Code § 10-5A-1)
Disclaimer
Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in Georgia may change without notice. This page provides general guidance only. Please consult your local tax authority or a qualified tax professional, and check official state resources for the most current and accurate information before making any precious metals transactions.
If you want to buy or sell precious metal coins and bars in Georgia, your transactions are generally tax-free. Always verify your specific products and stay updated with the Georgia’s Division of Tax Revenue.
Sales tax is assessed according to where one is shipping the purchase to.
Safe Haven Metal utilizes an advanced sales tax computation system to determine the applicable sales tax on precious metals transactions based on the purchaser’s ZIP code. This system is designed to ensure that the most accurate pricing and corresponding tax calculations are applied to each order.
However, Safe Haven Metal may not have an established economic nexus in every state or jurisdiction. In instances where Safe Haven Metal is not obligated to collect sales tax, and such tax is nonetheless applicable under state or local law, the purchaser is solely responsible for reporting, remitting, and paying any such taxes directly to the appropriate taxing authority.
Safe Haven Metal disclaims any liability for a purchaser’s failure to properly report or remit taxes that may be due in connection with their purchase.
