Buying Gold and Silver in Delaware

TAXES IN DELAWARE

Delaware has no sales tax and it is very relaxed on all taxes. This is why the state is such an attractive base of operations for companies and corporations. It’s also a big plus from the perspective of an investor, as the lack of sales tax and the many companies creating competition keep prices constantly low. This is why Delaware is one of the best places to buy precious metals in the United States, and why some online bullion dealers have set up shop in the state.

Federal Capital Gains Tax

There is a Federal Capital Gains Tax in place in Delaware which takes a percentage of your profits. The percentage that is taken will depend on your income and location, but there is a maximum rate of 28%. This applies only to profits and not if you take a loss or if you simply hold onto your investment. This tax is not unique to Delaware, or to the United States for that matter, and it exists in one form or another all over the world.

Tax Free Precious Metals

As mentioned above, there is no sales tax in the state of Delaware. This is not an exemption for precious metals like the ones you will find in other states, as sales tax does not apply to any purchase, regardless of type or quantity.

Because of this, there are many bullion dealers located in the state. You will find some of the best prices and the widest selections here, with everything from rare and expensive coins, to high quality gold, silver, platinum and palladium bullion.

Source: http://www.taxrates.com/state-rates/delaware/

ABOUT DELAWARE

Appearing as a mere blip on the map, the tiny state of Delaware is the second smallest in the United States and the sixth least populated. There are less than a million people here, with a large slice of that living in the largest city, Wilmington. The state capital of is Dover. The city of Dover is named after the English town of the same name, famous for its white cliffs and stunning natural beauty.

State-Funded

The largest employer in the city of Dover is also the largest employer in the state—the United States government. This means that more Delawareans work for Uncle Sam than for any other business or company, which in turn means that the state of Delaware does more for its own economy than any local, national or foreign company.

Of course, this isn’t the only major industry in the state, as agriculture is also an active sector, with production ranging from soybeans to poultry. The educational, banking, chemical and health care sectors also employ large numbers. All of this helps to keep the unemployment rate down, with only 5% of the population out of work.

The most notable thing about Delaware from a financial point of view is that it is considered a business haven, with a slew of corporations located here. In fact, of all the publicly traded companies in the United States, 50% are found in this state, with a high number ranking as Fortune 500 companies.

 

 

Note: GoldBroker cannot provide tax, legal, or other advice, so if you are not sure about the taxation to your personal circumstances, we recommend that you seek independent advice from a qualified professional.

All of these texts were accurate at the time of writing, but tax laws are constantly changing and it’s not easy to keep track of those changes. Because of this, we can not be held responsible for any false or out-of-date information.