05/30/2024 06:54:10 PM
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Sales Tax in Illinois

The State of Illinois requires the collection of occupation taxes on certain products sold by Provident Metals and delivered to an Illinois address.

These taxes must be collected on (1) palladium products; (2) copper products; (3) any bullion with a purity of less than 980 parts per 1,000; (4) any coins that were issued by any other U.S. state other than the State of Illinois; (5) accessory items; and (6) processed items.

The following definitions apply to products on which taxes must be collected in Illinois:

  • Bullion. Gold, silver, or platinum in a bulk state with a purity of not less than 980 parts per 1,000.
  • Accessory Items. Items such as holders, tubes, coin flips, and apparel.
  • Processed Items. Precious metals that have been processed by third parties into items that are valued on more than their precious metal content, such as statues or colorized coins.

Occupation taxes in Illinois are calculated at checkout on the Provident Metals website based on (1) the taxability of products sold by Provident Metals in Illinois set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Illinois. Our occupation tax license number in Illinois is 4296-5071.

If you are an Illinois-based reseller and wish to file a Reseller Certificate with Provident Metals, please download the Illinois Reseller Certificate form here. Once you have filled out this form, either email it to help@providentmetals.com; or mail it to Provident Metals Corp, 6125 Luther Lane, #465, Dallas, TX 75225. Once we receive your completed Reseller Certificate, we will enter it into our system, and you will not be charged occupation taxes on future orders as long as your Reseller Certificate remains valid and in force.

Please note:

  • These sales tax rules also apply to purchases made in a precious metals IRA.
  • In applicable states, sales tax rates are also applied to shipping charges. This means that even if you are not taxed on bullion and/or accessories in a particular state, you may still be required to pay a sales tax on any applicable shipping fee.

Please note: The above is not a comprehensive description of sales tax laws and requirements in the State of Illinois. 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 Illinois that relate to the reader’s transactions with Provident Metals. If you would like to research the sales tax laws and requirements in the State of Illinois, we suggest you visit the Illinois Department of Revenue located at https://www2.illinois.gov/rev/Pages/default.aspx.