Kentucky Precious Metals Tax Information



As of right now (June 10, 2024), Kentucky still has a 6% sales tax on precious metals..


However, there are upcoming changes:


August 1, 2024: A new law goes into effect that exempts gold bullion from the 6% sales and use tax. There is some confusion about this law, so it's best to check with the Kentucky Department of Revenue for updates closer to the date.

 

Later in 2024: Another piece of legislation is in the works that would exempt all precious metals (not just gold bullion) from sales tax. This is expected to be passed sometime later in the year..


PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF KENTUCKY. 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 KENTUCKY 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 KENTUCKY, WE SUGGEST YOU VISIT THE KENTUCKY DEPARTMENT OF REVENUE LOCATED AT https://revenue.ky.gov/Pages/index.aspx.