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Hawaii Precious Metals Tax Information
Hawaii doesn't have a traditional sales tax, but it does have a General Excise Tax (GET). This tax is generally paid by the seller, but it can be reflected in the prices they charge.
Important Considerations:
- Inclusion in Price.When buying precious metals in Hawaii, always ask the seller if the GET is included in the quoted price or if it will be charged separately.
- Out-of-State Retailers.Retailers located outside of Hawaii may not be required to collect the GET, but you might still be liable for a local use tax. It's best to consult with a tax professional for clarification.
For precious metals, the GET is 4% statewide, with some local municipalities adding an additional 1% to 2%.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF HAWAII. 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 HAWAII THAT RELATE TO THE READER’S TRANSACTIONS WITH ITM TRADING. IF YOU WOULD LIKE TO RESEARCH THE SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF HAWAII, WE SUGGEST YOU VISIT THE HAWAII DEPARTMENT OF TAXATION LOCATED AT https://hitax.hawaii.gov/_/.
