CPMEX » Sales Tax Laws For Bullion And Coins In Alabama
Alabama sales Tax laws on Gold & Silver Bullion / Coins
Rules and Regulations for the State of Alabama
Sales Tax Law:
Sales tax exemption for gold, silver, and platinum bullion in the state of Alabama.
Sales tax will not be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Alabama address.
CPMEX will not collect tax on exempt items, but must on non-exempt items
CPMEX is required to collect tax on some items shipping to Alabama, 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 an Alabama address.
The state of Alabama requires the collection of a flat-rate Simplified Sellers Use Tax of 8% on certain products sold by CPMEX and delivered to an Alabama address. These taxes must be collected on (1) Copper products, (2) certain bullion items less than .90 fine, (3) certain numismatic products, (4) accessory items and (5) processed items. All other products sold by CPMEX are exempt from these taxes.
The following definitions apply to products on which taxes must be collected in Alabama:
-Numismatic Products: Products with 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 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.
-All copper products
Use taxes in Alabama are calculated at checkout on the CPMEX website based on (1) the taxability of products sold by CPMEX in Alabama set forth above, and (2) the Alabama Simplified Sellers Use Tax rate of 8%.
As required by Alabama law (Rule 810-6-2-.90.02 Simplified Sellers Use Tax Remittance Program), BGASC is required to notify its Alabama customers of the following:
CPMEX HAS COLLECTED THE SIMPLIFIED SELLERS USE TAX ON CERTAIN TRANSACTIONS DELIVERED INTO ALABAMA AND THE TAX WILL BE REMITTED ON THE CUSTOMER’S BEHALF TO THE ALABAMA DEPARTMENT OF REVENUE.
Capital Gains Tax:
Currently 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 Alabama. 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 Alabama that relate to the reader’s transactions with CPMEX. if you would like to research the sales tax laws and requirements in the state of Alabama, we suggest you visit the Alabama department of revenue located at https://revenue.alabama.gov/.
Items for sale
***change some words but keep the same for all state pages on tax on bottom, just put different state in
Buying Gold and Silver in Alabama
Buying precious metals from online dealer CPMEX has some major advantages. Though CPMEX is physically located in Erie Colorado, we ship all over the United States, every day.
CPMEX offers a huge selection of coin and bullion products for Alabama 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 CPMEX 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 CPMEX.co:
Gold and silver shipped directly to your door
Lower prices than most physical coin stores
24/7 online ordering 365 days a year
Friendly & knowledgeable customer service
Because online precious metals dealer CPMEX may have lower overhead than brick and mortar coin shops, we are be able to pass savings on to our customers. CPMEX offers some of the lowest prices available for precious metals.
CPMEX is proud to serve the residents of Alabama, and offers a great value and buying experience.
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