Buy silver in New Mexico

new-mexicoNew Mexico is one of the largest states of the United States which is located in its western and southwestern regions. Way before the Spanish colonists inhabited the land for 400 years, it was home to Native Americans and was accepted as a state in 1912 after many changes.

It is bounded by Oklahoma, Arizona in the west whereas Texas in the west as well as in the south and Colorado in the north. It copes with arid to semi-arid climate along with streaks of alpine and continental climates. Its economy is dependent on federal government, tourism, oil and gas production.

Taxes on silver sales

There is a specific transactions sales tax rate in New Mexico. This tax is applied for each sale and represents 5.125% 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 5.125% and 8.688%.

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

More information on sales tax : http://www.tax.newmexico.gov/