New York is a state located in the northeastern region of the United States. It is the 27th largest state at 54,555 square miles and the 4the most populated with over 19.7 million residents. New York City is the most populated state in the entire U.S. with over 8 million residents, making it also the most densely populated major city. NY is part of the original thirteen colonies that formed the U.S.
Bullion Sales Tax in New York
New York has a statewide sales tax rate of 4% with additional local taxes that can be as high as 8.875%. Coins and paper currency are taxable in the state of New York. The only time there is an exemption is if the total purchase is at least $1,000. And for this exemption to apply, the bullion must be in the form of bars, rounds, or coins that are made out of gold, silver, platinum, palladium, or any other precious metal. One coin in particular that is excluded from this exemption is the South Africa Krugerrand Bullion Coin.