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Kansas Precious Metals Tax Information
Federal Capital Gains Tax:
While Kansas does not have a specific tax on precious metals, it is important to note that gains from the sale of precious metals may be subject to federal capital gains tax. This tax is based on your individual tax rate and the amount of profit you make from the sale.
Taxable Products in Kansas
- Copper Products.
- Coins made from metals other than gold or silver.
- Accessory Items (holders, tubes, etc.).
- Processed Items (statues, colorized coins, etc.).
Exemptions:
- Gold Coins.
- Silver Coins.
- Palladium Bullion.
- Platinum Bullion.
- Gold Bullion.
- Silver Bullion.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF KANSAS. 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 KANSAS 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 KANSAS, WE SUGGEST YOU VISIT THE KANSAS DEPARTMENT OF REVENUE LOCATED AT https://www.ksrevenue.gov/.
