Sales Tax Law:
Legislative Bill 867. Nebraska rolled back its policy on pillaging its people in the form of sales taxation on precious metals purchases. LB 867 states that “sales and use taxes shall not be imposed on the gross receipts from the sale, lease, or rental of and the storage, use, or other consumption in this state of currency or bullion.”
Bullion is defined as “bars, ingots, or commemorative medallions of gold, silver, platinum, or palladium, or a combination of these for which the value of the metals depends on its content and not the form.”
Currency is defined as “a coin or currency made of gold, silver, or other metal or paper which has been used as legal tender.”
NPMEX is required to collect tax on some items shipping to Nebraska, however sales tax will not be charged for Gold, Silver, Platinum or Palladium bullion items as they are exempt from sales tax when shipping to a Nebraska address.
The state of NPMEX requires the collection of sales taxes on certain products sold by NPMEX and delivered to a Nebraska address. These taxes must be collected on (1) copper products; (2) certain currency; (3) accessory items; and (4) processed items. All other products sold by NPMAX are exempt from these taxes.
The following definitions apply to products on which taxes must be collected in Nebraska:
- Certain Currency: Currency that has not been issued as legal tender.
- Accessory Items: Items such as holders, tubes or coin flips.
- Processed Items: Precious Metals that have been processed by third parties into items valued on more than their Precious Metal content, such as jewelry, statues or colorized coins.
Sales taxes in Nebraska are calculated at checkout on the NPMEX website based on (1) the taxability of products sold by NPMEX in Nebraska set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Nebraska.
Capital Gains Law:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes, or when used in barter transactions.
Please Note: The above is not a comprehensive description of sales tax laws and requirements in the state of Nebraska. 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 Nebraska that relate to the reader’s transactions with NPMEX. if you would like to research the sales tax laws and requirements in the state of Nebraska, we suggest you visit the Nebraska department of revenue located at http://www.revenue.nebraska.gov/.
Buying Gold and Silver in Nebraska
Buying precious metals from online dealer NPMEX has some major advantages. Though NPMEX is physically located in Erie Colorado, we ship all over the United States, every day.
NPMEX offers a huge selection of coin and bullion products for Nebraska residents to choose from. Buyers can shop by metal type or by form such as coin, round or bar. In addition to potential cost savings, shopping online at NPMEX is convenient and can be done from the comfort of your own home or office. Simply pick the coin or bullion products you want to buy, complete the simple checkout process, and your metals will be quickly shipped to your home or other destination of choice. Your precious metals purchases are fully insured and tracked while in transit.
Benefits to buying gold & silver online at NPMEX.com:
- Gold and silver shipped directly to your door
- Lower prices than most physical coin stores
- Wide selection
- 24/7 online ordering 365 days a yearFriendly & knowledgeable customer service
Because online precious metals dealer NPMEX may have lower overhead than brick and mortar coin shops, we are be able to pass savings on to our customers. NPMEX offers some of the lowest prices available for precious metals.
NPMEX is proud to serve the residents of Nebraska, and offers a great value and buying experience.