Iowa - ModernCoinMart

The State of Iowa requires the imposition of sales taxes on specific items sold by ModernCoinMart and delivered to addresses within Iowa. It is essential to ensure the collection of these taxes on (1) any bullion products made of copper; (2) any coins that currently are not, or were not previously, used as legal tender; (3) accessory items; and (4) processed items.

The following definitions apply to items that are subject to state tax collection in Iowa:

Bullion. Gold, silver, platinum, palladium, or a combination thereof, presented in the form of bars, ingots, or commemorative medallions, are subject to taxation based on their intrinsic metal value rather than their physical form.
Coins. A coin made of gold, silver, or other metal which is or has been used as legal tender.
Accessory Items. Items such as holders, tubes, coin flips, and apparel.
Processed Items. Processed precious metals altered by third-party entities to create items valued for attributes beyond their intrinsic metal content, such as embellished coins or sculptures.

Sales taxes in Iowa are calculated at checkout on the ModernCoinMart website based on (1) the tax implications associated with products sold by ModernCoinMart in Iowa, as previously outlined, and (2) the specific tax rates determined by the governing tax authority applicable to the designated delivery location within Iowa.

If you are an Iowa-based reseller and wish to file a Reseller Certificate with ModernCoinMart, please contact us at [email protected]. Upon receipt of your completed Reseller Certificate, we will promptly enter it into our records. Provided that your Reseller Certificate maintains its validity and remains active, no sales taxes will be applied to subsequent orders.

ModernCoinMart began collecting sales taxes in Iowa on May 1, 2024. Our sales tax license number in Iowa is 3-02-708827.

Please note: The summary above provides a condensed examination of sales tax laws and obligations within the State of Iowa. While comprehensive, it may only encompass some facets of the regulations. Its purpose is to outline the pertinent laws and requirements applicable to transactions involving ModernCoinMart within the state.. If you would like to research the sales tax laws and requirements in the State of Iowa, we suggest you visit the Iowa Department of Revenue located at https://tax.iowa.gov/.

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