Iowa Precious Metals Tax Information
The state of Iowa requires the collection of sales taxes on certain products sold by APMEX and delivered to an Iowa address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Iowa. 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 Iowa that relate to the reader’s transactions with APMEX.
- What Precious Metals Are Taxed?
Taxes must be collected on Copper products, certain currency, accessory items and processed items.
- Taxable Products in Iowa
The following definitions apply to products on which these taxes must be collected in Iowa:
- Certain Currency. Currency that has not been issued as legal tender.
- Accessory Items. Items such as holders, tubes, or coin flips.
- Processed Items. Precious Metals that have been processed by third parties into items valued on more than their Precious Metal content, such as jewelry, statues or colorized coins.
- How Does Iowa Calculate Precious Metals Taxes?
Sales taxes in Iowa are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Iowa set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Iowa.
APMEX began collecting sales taxes in Iowa in January 2019.