Wyoming Precious Metals Tax Information
Wyoming sales tax treatment of precious metals divides into two categories under state law: exempt gold and silver specie and specie legal tender, and taxable uncoined bullion and other metals.
Taxable Products in Wyoming
- Uncoined bullion. Such as plain gold and silver bars that are not coined, stamped, or imprinted with weight and purity
- Platinum, palladium, and other precious metals not classified as gold or silver specie
- Medallions, tokens, jewelry, and decorative items.
Exemptions:
- Gold and silver specie and specie legal tender under W.S. 39-15-101(a)(xxxi) and the Wyoming Legal Tender Act (HB 103, 2018)
- Coins having gold or silver content, or refined gold or silver bullion that has been coined, stamped, and imprinted with its weight and purity and valued primarily based on its metal content
- Gold and silver specie legal tender. Including coins issued by the U.S. or a foreign nation at any time as legal tender
- The Wyoming Legal Tender Act provides that the purchase, sale, or exchange of any type or form of specie or specie legal tender shall not give rise to any tax liability of any kind
Tax Rates:
The statewide base sales tax rate is 4%, with local taxes adding between 0.1% and 2% depending on the municipality, for a maximum combined rate of approximately 6%.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF WYOMING. 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 WYOMING 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 WYOMING, WE SUGGEST YOU VISIT THE WYOMING TAX AUTHORITY LOCATED AT https://revenue.wyo.gov/.
