The tax on precious metals in Oklahoma can vary depending on several factors:

State Sales Tax:

• The base state sales tax on precious metals in Oklahoma is 4.5%.

Local Sales Tax:

• Counties and cities in Oklahoma can add their own sales tax to the base state tax, resulting in a wide range of total tax rates across the state.
• For example, in Tulsa, the total sales tax on precious metals is 8.517% (4.5% state + 0.85% county + 3.167% city).
• It is important to check the specific tax rate for the county and city where you are purchasing precious metals.

Exemptions:

• Some purchases of precious metals may be exempt from state sales tax, such as bullion bought and stored in a depository.
• Fabricated metals like jewelry and other collectibles are not exempt.

Capital Gains Tax:

• Oklahoma, like the rest of the United States, has a federal capital gains tax on the profits made from the sale of precious metals.
• The rate you are charged depends on your individual income.