Missouri State Sales Tax Requirements for Bullion & Collectibles Industry
The State of Missouri requires the collection of sales taxes on certain products sold by the Gold Financial Group and delivered to a Missouri address. These taxes must be collected on (1) any bullion products that are not in a bulk state and have a purity of less than 900 parts per 1,000; (2) any coins that are not investment coins; (3) copper products; (4) accessory items; and (5) 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 Missouri:
- Bullion. Precious metal that is valued solely upon its precious metal content, whether in coin, round, or bar form.
- Investment Coins. Numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium, or metals with a fair market value greater than the face value of the coins.
- 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.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF MISSOURI. 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 MISSOURI 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 MISSOURI, WE SUGGEST YOU VISIT THE MISSOURI DEPARTMENT OF REVENUE LOCATED AT HTTPS://DOR.MO.GOV/.