California Gold and Silver Sales Tax Information
Please note that the following only applies to purchases valued under $1,500 shipped to customers in California.
Veldt LLC is now operating out of the state of California. As per California Sales And Use Tax Regulations Regulation 1599 (http://www.boe.ca.gov/lawguides/business/current/btlg/vol1/sutr/1599.html) we are now required to collect 7.25% sales tax on all sales of “monetized bullion,” nonmonetized gold or silver bullion, and numismatic coins, unless it’s a bulk sale.
A bulk bullion sale is defined by the California Board of Equalization as:
For sales occurring on or after January 1, 2009, a sale in bulk occurs if the total market value of the monetized bullion, nonmonetized gold or silver bullion, and numismatic coins sold in a single transaction is $1,500 or more, or is equal to or exceeds the adjusted amount as computed by Revenue and Taxation Code Section 6355. For purposes of this regulation, market value means sales price as defined in Section 6011 of the Sales and Use Tax Law.
Strictly speaking if your bullion purchase comes to a total of $1,500 or more, we are not required to collect sales tax. If, however, it is under $1,500 please expect to be charged sales tax.
If you have more questions about California Gold and Silver Sales Tax or anything else, please do not hesitate to contact us! We will be happy to help.