Minnesota Precious Metals Tax Information
Minnesota applies sales tax to most precious metals products, with a limited exemption for certain bullion items.
Taxable Products in Minnesota
- All coins. Including bullion and numismatic coins
- Jewelry, works of art, and scrap metal.
- Accessories. Such as holders, tubes, capsules, coin flips, and similar items
- Processed or altered items. Meaning products modified beyond their original bullion form, including colorized coins, plated coins, and specialty finishes
Exemptions:
- Gold, silver, platinum, and palladium bars or rounds with a purity of at least .999 (99.9%), clearly marked with weight, purity, and metal content
Tax Rates:
Qualifying bars and rounds meeting Minnesota's purity and marking requirements are exempt from sales tax.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF MINNESOTA. 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 MINNESOTA THAT RELATE TO THE READER'S TRANSACTIONS WITH ITM TRADING. IF YOU WOULD LIKE TO RESEARCH THE SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF MINNESOTA, WE SUGGEST YOU VISIT THE MINNESOTA TAX AUTHORITY LOCATED AT https://www.revenue.state.mn.us/.
