As the #1 fastest-growing precious metals company in the U.S., JM Bullion has staked their place at the top of their industry. Their straightforward pricing, fast shipping, and robust customer service support help consumers invest with confidence at the best possible rates.
In 2023, JM surpassed $10 billion in total sales, up from $3 billion just three years prior. This is no small feat, especially considering this business began just over a decade ago, in 2011. Throughout their company journey, they’ve been crushing their goals at record speed. Within one year, they had their first $100,000 sales day. Eight months later, they broke that goal tenfold with their first $1 million sales day.
Such rapid growth comes with major growing pains that their team took in their stride, but when the court case South Dakota vs. Wayfair rocked online retailers in 2018, JM Bullion went looking for help to understand their new sales tax responsibilities.
“Streamlining our sales tax compliance helps us to move faster as our company continues to grow and legislation continually changes. Sales tax becomes one less thing that I have to worry about.”
-Shana Khawaja | Senior Tax Manager, JM Bullion
JM Bullion was on the hunt for a sales tax solution that could not only help them stay compliant with the newest legislation, but also had great customer service to answer all their questions. It was an overwhelming time for many retailers and JM Bullion didn’t want to pump their brakes on their continued growth.
At the time they partnered with Peisner Johnson, JM Bullion had three entities under their umbrella, but they were filing as one single entity. In 2021, they realized they needed to separate their systems and processes and file all three entities separately or else they would end up in a bad spot.
With the help of Peisner Johnson, they were able to set up separate entities and processes efficiently. These new systems were able to seamlessly integrate new acquisitions as they rolled in and JM Bullion expanded to six companies (and still growing!).
Since then, Peisner Johnson has handled all of their monthly filing returns for every state and local jurisdiction. They file over 7000 returns annually.
“2018 was a challenging time to have sales tax liability because of the Wayfair court case. Companies were already in a balancing act of trying to run a profitable business, but then were forced to pay attention to the inconsistent legislation changes that continued to roll in over the next months and even years. It became a major burden and frustration that added unneeded stress and complexity to the situation.”
-Paul Johnson | COO, Peisner Johnson
“I love their customer service! Peisner Johnson is always quick to answer; they always get back to us quickly with the best solutions for our situation.”
-Shana Khawaja | Senior Tax Manager, JM Bullion
By partnering with Peisner Johnson, JM Bullion was able to release the weight and time-consuming nature of sales tax compliance. Without this support, they very quickly could have been facing thousands in fees for non-compliance. This often leads to a snowball effect that leaves business owners struggling and drowning in paperwork and returns.
Leaning on the sales tax experts empowers business owners like JM Bullion to focus on their core competencies and clients, so they can facilitate more growth and stress less about sales tax.
