If you are interested in purchasing precious metal bullion, you probably know that investing can be quite a tricky business. For one, there are numerous tax laws and regulations that buyers should be aware of, especially when choosing where you will purchase your bullion. That said, here is all you need to know about buying or selling gold or silver bullion in the state of Alabama.
Alabama Sales Tax
The sales tax rate for bullion in Alabama is 4%. However, there are numerous county and local taxes that may also be added on to this amount. For example, the city of Birmingham’s tax rate for bullion is 10% and other places are as high as 12%.
Alabama Capital Gains Tax
Alabama, like every other state, adheres to a federal capital gains tax. The highest rate you can receive is 28%; however, your individual rate will depend on your income level.
A truly diversified portfolio includes precious metals, so when you're planning for retirement, consider adding qualified bullion to your Self Directed IRA. Contact us to get started or visit our Precious Metals IRA page to learn how you can invest.
Looking for a Local Coin Show?
We attend a number of coin shows throughout the country each year. Here's where and when you'll find us at an expo near you.
Want to Join a Coin Club in Alabama?
Coin clubs are a great way to connect with those in your area who share your enthusiasm for coin and bullion investment or collecting. Check out our list of local Alabama coin clubs to find one near you.
Want to Buy Coins Locally?
Looking for somewhere nearby where you can purchase coins or other precious metal items? Check out our coin shop directory to find a place to buy coins near you.
Do you know 20 facts about Alabama?
Did you know that the nation's first Mardi Gras took place in Mobile, Alabama and not New Orleans? Find out more interesting facts about the Heart of Dixie.