Gold & Silver Sales Tax by State (2026): Where Bullion Is Taxed and Exempt
Quick answer: Most U.S. states exempt investment-grade gold and silver bullion from sales tax, but the map shifted in 2025–2026. Washington began taxing bullion at 6.5% on January 1, 2026 — the first state in years to add a tax. Maryland added a 6% tax in 2025 under House Bill 352, then reversed it: SB 309/HB 500, signed May 26, 2026, restore the exemption effective July 1, 2026. This guide tracks each state’s current treatment for investors.
Last updated: June 8, 2026. This guide tracks how each U.S. state treats sales tax on physical gold and silver bullion for investors. Most states exempt investment-grade bullion, but the map shifted in 2025–2026 — and one major exemption is days from expiring.
The 2025–2026 changes that matter
For years the trend ran one direction: states dropping sales tax on precious metals to attract investors and dealers. That reversed recently:
- Washington began taxing bullion at 6.5% on January 1, 2026 — the first state in years to add a tax rather than remove one. See our Tacoma gold IRA guide.
- Maryland added a 6% tax in 2025 under House Bill 352 — then reversed course: SB 309/HB 500 (signed May 26, 2026) restore the exemption effective July 1, 2026 for purchases over $1,000. See our Baltimore gold IRA guide.
- Virginia’s bullion exemption is scheduled to sunset on July 1, 2026. HB 2336, which would have extended it to 2032, has not been enacted — absent further action, Virginia purchases become taxable July 1, 2026. See our Norfolk gold IRA guide.
Sales tax on gold & silver bullion by state (2026)
Six states fully tax investment bullion in early 2026: Hawaii, Maine, Maryland, New Mexico, Vermont, and Washington — though Maryland’s exemption is restored effective July 1, 2026 (SB 309, purchases over $1,000). Four more states tax it only below a dollar threshold. Everyone else exempts it.
| State | Bullion sales tax | Detail |
|---|---|---|
| Alabama | Exempt | Investment-grade bullion exempt from sales tax |
| Alaska | No statewide sales tax | No state sales tax of any kind |
| Arizona | Exempt | Investment-grade bullion exempt from sales tax |
| Arkansas | Exempt | Investment-grade bullion exempt from sales tax |
| California | Partial / threshold | Exempt on single transactions over $1,500; taxed below |
| Colorado | Exempt | Investment-grade bullion exempt from sales tax |
| Connecticut | Partial / threshold | Exempt over $1,000; 6.35% on $1,000 or less |
| Delaware | No statewide sales tax | No state sales tax of any kind |
| Florida | Exempt | Investment-grade bullion exempt from sales tax |
| Georgia | Exempt | Investment-grade bullion exempt from sales tax |
| Hawaii | Taxed | ~4% general excise tax applies to bullion |
| Idaho | Exempt | Investment-grade bullion exempt from sales tax |
| Illinois | Exempt | Investment-grade bullion exempt from sales tax |
| Indiana | Exempt | Investment-grade bullion exempt from sales tax |
| Iowa | Exempt | Investment-grade bullion exempt from sales tax |
| Kansas | Exempt | Investment-grade bullion exempt from sales tax |
| Kentucky | Exempt | Investment-grade bullion exempt from sales tax |
| Louisiana | Exempt | Investment-grade bullion exempt from sales tax |
| Maine | Taxed | 5.5% sales tax on bullion |
| Maryland | Taxed → Exempt 7/1/2026 | 6% tax added 2025 (HB 352); exemption restored effective July 1, 2026 for purchases over $1,000 (SB 309/HB 500, signed May 26, 2026) |
| Massachusetts | Partial / threshold | Exempt on transactions over $1,000 |
| Michigan | Exempt | Investment-grade bullion exempt from sales tax |
| Minnesota | Exempt | Investment-grade bullion exempt from sales tax |
| Mississippi | Exempt | Investment-grade bullion exempt from sales tax |
| Missouri | Exempt | Investment-grade bullion exempt from sales tax |
| Montana | No statewide sales tax | No state sales tax of any kind |
| Nebraska | Exempt | Investment-grade bullion exempt from sales tax |
| Nevada | Exempt | Investment-grade bullion exempt from sales tax |
| New Hampshire | No statewide sales tax | No state sales tax of any kind |
| New Jersey | Exempt | Investment-grade bullion exempt from sales tax |
| New Mexico | Taxed | Gross receipts tax applies to bullion |
| New York | Partial / threshold | Exempt over $1,000 (conditions apply) |
| North Carolina | Exempt | Investment-grade bullion exempt from sales tax |
| North Dakota | Exempt | Investment-grade bullion exempt from sales tax |
| Ohio | Exempt | Investment-grade bullion exempt from sales tax |
| Oklahoma | Exempt | Investment-grade bullion exempt from sales tax |
| Oregon | No statewide sales tax | No state sales tax of any kind |
| Pennsylvania | Exempt | Investment-grade bullion exempt from sales tax |
| Rhode Island | Exempt | Investment-grade bullion exempt from sales tax |
| South Carolina | Exempt | Investment-grade bullion exempt from sales tax |
| South Dakota | Exempt | Investment-grade bullion exempt from sales tax |
| Tennessee | Exempt | Investment-grade bullion exempt from sales tax |
| Texas | Exempt | Investment-grade bullion exempt from sales tax |
| Utah | Exempt | Investment-grade bullion exempt from sales tax |
| Vermont | Taxed | 6% sales tax on gold & silver |
| Virginia | Exempt (sunset risk) | Exempt through July 1, 2026 — set to sunset unless extended (HB 2336 pending) |
| Washington | Taxed | 6.5% sales tax (effective Jan 1, 2026) |
| West Virginia | Exempt | Investment-grade bullion exempt from sales tax |
| Wisconsin | Exempt | Investment-grade bullion exempt from sales tax |
| Wyoming | Exempt | Investment-grade bullion exempt from sales tax |
| District of Columbia | Exempt | Investment-grade bullion exempt from sales tax |
Local taxes may apply in some jurisdictions (notably Alaska, which has no state tax but allows local sales tax). Thresholds and rules change; always confirm with the state Department of Revenue or a tax professional before a large purchase.
Threshold states: how the dollar limits work
Four states exempt bullion only above a transaction size:
- California — exempt on single transactions over $1,500; smaller buys are taxed.
- Connecticut — exempt over $1,000; 6.35% at or below.
- Massachusetts — exempt on transactions over $1,000.
- New York — exempt over $1,000 when conditions are met.
The practical takeaway: in threshold states, consolidating into a single larger purchase can move you over the exemption line.
Sales tax vs. capital gains — don’t confuse them
Sales tax is charged (or not) at the moment you buy. A separate federal rule governs what you owe when you sell: the IRS treats physical gold and silver as “collectibles,” taxing long-term gains at up to 28% rather than the standard long-term capital-gains rate. Holding bullion inside a self-directed IRA changes that treatment — see our Gold IRA rules guide and the live silver bullion price.
Avoiding sales tax legally
Three legitimate routes investors use: (1) buy in an exempt state or above the threshold in a threshold state; (2) buy online from a dealer that doesn’t have nexus in your state (post-Wayfair, this is narrower than it used to be); or (3) hold metals inside a gold or silver IRA, where purchases are made by the custodian and ordinary retail sales tax generally doesn’t apply. For investors comparing custodians, our Augusta Precious Metals review walks through how an IRA purchase is structured.
Frequently asked questions
Which states have no sales tax on gold and silver in 2026?
Most do not tax investment bullion. Fully exempt or no-sales-tax states include the large majority; only Hawaii, Maine, New Mexico, Vermont, and Washington fully tax it (Maryland’s 2025 tax ends July 1, 2026, when its over-$1,000 exemption is restored), with California, Connecticut, Massachusetts, and New York taxing only below a dollar threshold.
Did Washington start taxing gold and silver?
Yes. Effective January 1, 2026, Washington applies its 6.5% retail sales tax (plus B&O tax) to precious-metal bullion sales.
Is Virginia still tax-free for bullion?
As of June 8, 2026, yes — but the exemption is set to expire July 1, 2026 unless the legislature extends it. Buyers planning Virginia purchases should watch that date.
Does buying gold in an IRA avoid sales tax?
Generally yes — metals purchased by an IRA custodian for a self-directed account are not retail consumer sales, so ordinary sales tax typically does not apply. Other IRA rules and fees do; see our gold IRA guides.
This page is for general information only and is not tax or legal advice. Sales-tax rules, rates, and thresholds change frequently and vary by locality. Verify current rules with your state Department of Revenue or a qualified tax professional before making a purchase.
Related guides: If you are weighing a precious-metals purchase against the sales-tax rules above, see our Leading Gold IRA Companies 2026 rankings and our Gold IRA Complete Guide for how IRA-held metals are taxed differently from a direct retail purchase.
Buying Inside an IRA Instead?
Metals bought by an IRA custodian are not retail consumer sales, so state sales tax generally does not apply. GoldenCrest’s current Market Reset offer is best-fit for rollovers between $10,000 and $50,000.
See the GoldenCrest Market Reset Offer →
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