CPMEX » South Dakota Sales Tax on Gold & Silver Bullion / Coins
Sales Tax Law:
Statute 10-45-110 of the South Dakota Codified Laws, there is an “exemption for sales of coins,
currency, or bullion.”
Bullion is defined as “any bar, ingot, or commemorative medallion of gold, silver, platinum, palladium, or a combination of these metals where the value of the metal depends on its content and not the form.”
Coins and currency is defined as “any coins or currency made of gold, silver, or other metal or paper which is or has been used as legal tender.”
NPMEX is required to collect tax on some items shipping to South Dakota, 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 Dakota address.
The State of South Dakota requires the collection of taxes on certain products sold by NPMEX and delivered to a South Dakota address. These taxes must be collected on (1) copper products; (2) certain numismatic coins; (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 Dakota:
Sales taxes in South Dakota are calculated at checkout on the NPMEX website based on
(1) the taxability of products sold by NPMEX in South Dakota set forth above, and
(2) the specific tax rates established by the taxing jurisdiction of the delivery address in South Dakota.
Capital Gains Tax:
South Dakota does not impose a state income tax on its citizens, so there is no taxation on capital gains on precious metals.
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 NPMEX. 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/.
Buying Gold and Silver in South Dakota
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 South Dakota 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 Dakota, and offers a great value and buying experience.
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