Nevada Precious Metals Tax
What Precious Metals Are Taxed in Nevada?
The Silver State was always destined for riches. Home to the some of the largest gold and silver mines in the world, you can be Nevada has laws on their books. This article does not discuss Tax on Gross Revenue of Gold and Silver Mining Businesses as set out in Nevada Revised Statutes §§363D.010-363D.310
Definitions Specific to Precious Metal Products in Nevada
‘“Precious metal’ means the following in either coin, bullion or other form:
1. Silver; 2. Gold; 3. Platinum; 4. Palladium; 5. Copper; and 6. Such other items as the Administrator may specify by regulation or order.” Nev. Rev. Stat. § 91.140
What Precious Metals Are Taxed in Nevada?
Since Nevada does not tax the sale of gold, silver or platinum this article would be rather barren. Since you are here, and since we did the research, here are some interesting facts to know.
Subject to Judgment Seizure
Nev. Rev. Stat. § 21.100 (“3. Nothing in this section shall be construed so as to exempt from execution any numismatic collection, such as gold and silver coins, paper currency, bank notes, legal tender currency, national or state bonds, or any negotiable note, or valuable copper, bronze, nickel, platinum or other coin.”)
Not Taxable as a Personal Asset
Nev. Rev. Stat. § 361.069 (“1. Except as otherwise provided in this section, household goods and furniture are exempt from taxation. 4. As used in this section: (a) “Household goods and furniture” includes, without limitation, the following items if used in a residence: (1) Clothing; (2) Personal effects; (3) Gold and silver; (4) Jewelry; (5) Appliances that are not attached to real property or a mobile or manufactured home;”)
Protect Yourself
Most states require delivery after payment in good funds within 28 days, Nevada however, requires delivery in 7 days. Nev. Rev. Stat. § 91.210(1)(b)
Disclaimer
Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in Nevada 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 Nevada, your transactions are generally tax-free. Always verify your specific products and stay updated with the Nevada’s Division of 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.
