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How much would I have to pay in total (Specific) , taxes and duties For Personal Gold brought into US From INT?


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Old 07-03-2009, 03:38 PM
business business is offline
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Default How much would I have to pay in total (Specific) , taxes and duties For Personal Gold brought into US From INT?

I am a U.S Citizen who lives in california and inherited some jewelry from a close relative From Nicaragua (Central America).How much would I have to pay in total for taxes, duties and other fees For bringing Personal Gold Jewelry into The United States From Nicaragua. The Personal Gold Jewelry includes:18k Chain that is 450 Grams18k Bracelet that is 300 Grams18k Ring that is 30 GramsI would like to know the total I will have to pay for that so I can be prep aired so I can pay the total taxes and other importing fees into the United States. I don't know much about this kind of stuff. Any information or suggestions is well Appreciated, Thanks
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Old 07-03-2009, 04:07 PM
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Default How much would I have to pay in total (Specific) , taxes and duties For Personal Gold brought into US From INT?

Calculating the exact amount of import duty to be paid is very intricate and depends on a variety of factors, not all of which seem logical. The duty is based on the price a good costs in a store, not its weight.Contact the CBP for an exact estimate of what you will have to pay.To give you an indication : You are importing .780 kg of gold. At a gold price of ~ $27000 and accounting for the fact that jewelry is usually more expensive than just its weight in gold, you are importing goods worth around $25,000.The first $800 are duty free.The next $1000 are charged at a flat rate of 3%, i.e. $30.The last $23,200 are charged according to the Harmonized Tariffs Schedule. The second link below links to the relevant chapter. As you can see, the exact rate vary hugely depending on the exact make of the items. Rates are anywhere from 0-80 %
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