Buy silver in Minnesota

minnesotaMinnesota is a state of the U.S. located in its mid western part and its name means ‘clear blue water’ in Dakota. Prior to the European conquest, it was inhabited by Native American tribes that ruled over this territory for years. It has continental climate which is an extreme type of climate. This means the state copes with very hot summers and cold winters in general.

Its economy has transitioned from a raw material supplier to finished products. Today it stands on the pillars of business, healthcare, insurance, hospitality and retail. It has a rich cultural heritage to bask in and these days it is state with mixed ethnicity.

Taxes on silver sales

There is a specific transactions sales tax rate in Minnesota. This tax is applied for each sale and represents 6.875% of the price. There are some additional local sales tax required by cities or/and by the county, consequently the total sale tax amount varies between 6.875% and 8.375%.

For example, San Paul sales tax rate is 7.625% vs 7.775% in Minneapolis.

No tax exemption for buying silver coins and bullion in this state.

More information on sales tax : http://www.revenue.state.mn.us/businesses/sut/Pages/SalesTaxCalculator.aspx