South Dakota State Sales Tax Requirements for Bullion & Collectibles Industry
The State of South Dakota requires the collection of sales taxes on certain products sold by the Gold Financial Group and delivered to a South Dakota 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 South Dakota:
- 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.
Sales taxes in South Dakota are calculated at checkout on the Gold Financial Group website based on (1) the taxability of products sold by Gold Financial Group in South Dakota set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in South Dakota.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF SOUTH DAKOTA. 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 SOUTH DAKOTA 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 SOUTH DAKOTA, WE SUGGEST YOU VISIT THE SOUTH DAKOTA DEPARTMENT OF REVENUE LOCATED AT HTTPS://DOR.SD.GOV/.