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