Bullion Sales Tax in Detroit
Michigan has a statewide sales tax rate of 6% with no additional local taxes added. If you purchases gold, silver, platinum bullion or certain numismatic collectibles, you will not be taxed. Bullion refers to gold, silver, or platinum’s at least .900 pure, with the value dependent on the precious metal content versus the form. Investment coins on the other hand, refer to numismatic coins or other forms of money/legal tender manufactured of gold, silver, platinum, palladium, or other metals that are issued by the U.S. government or a foreign government where the value of trading is more that the face value of the coin.
When you buy gold bullion in Michigan you should also check out gold bullion dealers in Grand Rapids, MI.