Does SchiffGold Charge Sales Tax?
Because we are not a brick-and-mortar gold dealer and instead conduct our sales via phone and mail, we are not required to charge sales tax. This can lead to significant savings, depending on the laws where you live.
Many of our competitors and even your local coin shop may be required to tax your gold and silver purchases. These fees can vary dramatically from state to state. Before making a large precious metals purchase, speak with a tax professional about the laws in your area. You might be able to save yourself a lot of money by buying with us.
Going into 2014, remember that the Marketplace Fairness Act has yet to be considered by the US House of Representatives. It was approved by the Senate last May and, if passed, could force online and mail-order retailers to charge their customers tax.
If this bill becomes law, exactly what and how online sales taxes would be levied on gold dealers is still unknown. However, it could change the way companies like ours are allowed to do business, and you might find yourself paying an extra, government-imposed premium on your gold purchases next year.