- As of Jan. 1, Washington treats sales of precious metals and bullion as tangible personal property for sales tax and B&O tax.
- Retail sales of bullion are subject to retailing B&O tax and sales tax, which the seller must collect and remit.
- Wholesale buyers must provide a valid reseller permit to avoid sales tax; wholesale sales are subject to the wholesale B&O tax rate.
- Sales for other purposes (e.g., jewelry making, commissions) are taxed at the appropriate wholesale or retail rate based on the sale’s nature.
Source: taxconnex.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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