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)
Conclusion
Please note that this is not a comprehensive review of sales tax laws, only a brief overview of sales tax laws and requirements that may currently affect your transactions with Safe Haven Metal when shipping to the state of Georgia. Hyperlinks are provided to the state laws, therefore if at any time the text on this page differs from the state’s, you must follow the state’s text.
Assessing sales tax is according to where one is shipping the purchase to.
Safe Haven Metal uses an advanced sales tax computation system to calculate the correct precious metals’ sales tax applicable to your zip code. Making your purchase the best price with the most accurate tax automatically calculated for you. Now all you need to do is figure out which precious metals you are going to buy next with Safe Haven Metal.
