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Oklahoma: Precious Metals Exemption Amended

  • Jun 6, 2014 | Gail Cole

 Soon to be exempt from Oklahoma sales tax no matter where it's stored.

Oklahoma lawmakers have amended legislation pertaining to the sales tax exemption for gold and similar precious metals.

Beginning November 1, 2014, gold, silver, platinum, palladium and other bullion items such as bars and coins and legal tender are exempt from Oklahoma sales tax when “sold according to its value as precious metal or as an investment.” Prior to November 2014, these precious metals were required to be “stored within a recognized depository facility” in order to qualify for the exemption (SB 862).

The exemption from sales tax does not apply “to fabricated metals that have been processed or manufactured for artistic use or as jewelry.”

Ever-changing exemptions got you down? Learn how automated sales tax solution works.

photo credit: Investing in Gold via photopin cc


Sales tax rates, rules, and regulations change frequently. Although we hope you'll find this information helpful, this blog is for informational purposes only and does not provide legal or tax advice.
Gail Cole
Avalara Author
Gail Cole
Gail Cole
Avalara Author Gail Cole
Gail began researching and writing about sales tax in 2012 and has been fascinated with it ever since. She has a penchant for uncovering unusual tax facts, and endeavors to make complex sales tax laws more digestible for both experts and laypeople.