In Massachusetts, sales tax is charged on most goods. Items over $175 are taxed. Precious metals and jewelry are taxed if they are under $1,000.
To avoid sales tax on Amazon, buy from sellers who don’t charge it. Check before completing the purchase to ensure that no tax was added. Amazon’s wedding registry provides a discount of 20% off.
If selling jewelry owned for over a year, long-term capital gains tax applies, ranging from 0% to 20%. Inherited jewelry isn’t subject to estate taxes since it’s considered personal property. Furthermore, jewelry can be insured for its full value.
The use tax in Massachusetts is 6.25%. It applies to:
- Purchases used in Massachusetts
- Items bought without paying the 6.25% sales tax
This use tax must be paid to the state of Massachusetts.
What items are not taxed in Massachusetts?
- List not provided in the text*
Are handbags taxable in Massachusetts?
- Answer not provided in the text*