- Starting January 1, 2026, sales of precious metal and monetized bullion in Washington will be subject to both sales tax and business & occupation (B&O) tax.
- Retail sales of bullion will require sellers to collect and remit sales tax and pay B&O tax at the retailing rate.
- Wholesale buyers must provide a valid reseller permit to avoid sales tax, with sales subject to the wholesale B&O tax rate.
- The applicable tax rate (wholesale or retail) depends on the purpose of the bullion sale, such as for jewelry making or commissions.
- Businesses must prepare to track and document sales accurately to apply the correct tax rates.
Source: salestaxinstitute.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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