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Utah Precious Metals Tax Information
In Utah, sales tax on precious metals depends on the type of metal and its purity.
Taxable Products in Utah
- Bullion Products made of Copper or Palladium.
- Bullion Products made of gold, silver, or platinum with less than 50% purity.
- Numismatic Coins (collector's items) not used as legal tender.
- Accessory Items.
- Processed Items.
Exemptions:
- Legal Tender Coins (regardless of country of origin or metal content).
The sales tax rate varies depending on the local jurisdiction within Utah. The basic state sales tax rate is 4.7%, but local taxes can increase it up to 8.35%.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF UTAH. 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 UTAH 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 UTAH, WE SUGGEST YOU VISIT THE UTAH STATE TAX COMMISSION LOCATED AT https://tax.utah.gov/.
