Alabama State Sales Tax Requirements for Bullion & Collectibles Industry
The State of Alabama requires the collection of a flat-rate Simplified Sellers Use Tax of 8% on certain products sold by the Gold Financial Group and delivered to an Alabama address. These taxes must be collected on (1) copper products; (2) numismatic coins; (3) accessory items; and (4) processed items. All other products sold by Gold Financial Group are exempt from these taxes.
The following definitions apply to products on which taxes must be collected in Alabama:
- Numismatic Coins. Coins which have an external value above and beyond the base value of the underlying precious metal, due to the item’s rarity, condition, age, or other external factor.
- Accessory Items. Items such as holders, tubes, coin flips, and apparel.
- Processed Items. Precious metals that have been processed by third parties into items that are valued on more than their precious metal content, such as statues or colorized coins.
As required by Alabama law (Rule 810-6-2-.90.02 Simplified Sellers Use Tax Remittance Program), Gold Financial Group is required to notify its Alabama customers of the following:
GOLD FINANCIAL GROUP HAS COLLECTED THE SIMPLIFIED SELLERS USE TAX ON CERTAIN TRANSACTIONS DELIVERED INTO ALABAMA AND THE TAX WILL BE REMITTED ON THE CUSTOMER’S BEHALF TO THE ALABAMA DEPARTMENT OF REVENUE
Use taxes in Alabama are calculated at checkout on the Gold Financial Group website based on (1) the taxability of products sold by Gold Financial Group in Alabama set forth above, and (2) the Alabama Simplified Sellers Use Tax rate of 8%.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF ALABAMA. IT IS ONLY INTENDED TO PROVIDE THE READER WITH A BRIEF OVERVIEW OF THOSE SALES TAX LAWS AND REQUIREMENTS CURRENTLY IN EFFECT IN THE STATE OF ALABAMA THAT RELATE TO THE READER’S TRANSACTIONS WITH GOLD FINANCIAL GROUP. IF YOU WOULD LIKE TO RESEARCH THE SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF ALABAMA, WE SUGGEST YOU VISIT THE ALABAMA DEPARTMENT OF REVENUE LOCATED AT HTTPS://REVENUE.ALABAMA.GOV/.
Alabama required statement
Seller has collected the simplified sellers use tax on taxable transactions delivered into Alabama and the tax will be remitted on the customer’s behalf to the Alabama Department of Revenue.