CPMEX » South Carolina Sales Tax on Gold & Silver Bullion / Coins
Sales Tax Law:
Title 12, Chapter 36 of the South Carolina Code of Laws, there is a sales tax exemption for “(a) gold, silver, or platinum bullion, or any combination of this bullion; (b) coins that are or have been legal tender in the United States or other jurisdiction; and (c) currency.”
NPMEX is required to collect tax on some items shipping to South Carolina, 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 South Carolina address.
The State of South Carolina requires the collection of taxes on certain products sold by NPMEX and delivered to a South Carolina address. These taxes must be collected on (1) copper or palladium products; (2) any coins that are not, or previously were not, used as legal tender in the United States or
any other jurisdiction; (3) accessory items; and (4) processed items. All other products sold by NPMEX are exempt from these taxes.
The following definitions apply to products on which taxes must be collected in South Carolina:
Sales taxes in South Carolina are calculated at checkout on the NPMEX website based on
(1) the taxability of products sold by NPMEX in South Carolina set forth above, and
(2) the specific tax rates established by the taxing jurisdiction of the delivery address in South Carolina.
Capital Gains Tax:
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 South 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 South Carolina 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 South Carolina, we suggest you visit the South Carolina department of revenue located at https://dor.sc.gov/.
Buying Gold and Silver in South Carolina
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 Rhode Island 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:
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 South Carolina, and offers a great value and buying experience.
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