North Carolina State Sales Tax Requirements for Bullion & Collectibles Industry
The State of North Carolina requires the collection of privilege taxes on certain products sold by the Gold Financial Group and delivered to a North Carolina address. These taxes must be collected on (1) copper products; (2) any products that are not smelted or refined; (3) any coins that do not have a value beyond their statutory or nominal value; (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 North Carolina:
- Coins. A coin made of gold, silver, or other metal which is or has been used as legal tender.
- 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.
Privilege taxes in North Carolina are calculated at checkout on the Gold Financial Group website based on (1) the taxability of products sold by Gold Financial Group in North Carolina set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in North Carolina.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF NORTH CAROLINA. 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 NORTH CAROLINA 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 NORTH CAROLINA, WE SUGGEST YOU VISIT THE NORTH CAROLINA DEPARTMENT OF REVENUE LOCATED AT HTTPS://WWW.NCDOR.GOV/.