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 on January 1, 2026 (combined 8.9% to 10.7% depending on locality, plus a 0.49% B&O retailers absorb), 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 took effect July 1, 2026, exempting purchases over $1,000 anywhere in the state. Virginia’s exemption was set to lapse June 30, 2026 but was preserved through 2028 in the HB 30 biennial budget. This guide tracks each state’s current treatment for investors.
Last updated: August 14, 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: Washington added a tax, Maryland restored its exemption, and Virginia’s exemption survived a scheduled sunset.
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 on January 1, 2026, ending years of full exemption. It was the first state in years to add a tax rather than remove one. The combined rate runs 8.9% to 10.7% depending on locality (6.5% state plus local); dealers also owe the state’s 0.49% B&O tax on gross receipts, which they typically absorb against 2 to 3% bullion margins. Bills to repeal it received no hearing in the 2026 session, so the tax stands. 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 2026) restored the exemption effective July 1, 2026 for purchases over $1,000, and removed the 2025 rule that had limited the exemption to sales at the Baltimore Convention Center. It now applies statewide. See our Baltimore gold IRA guide.
- Virginia’s bullion exemption was scheduled to sunset on June 30, 2026 — and was preserved. HB 2336 (which would have run the exemption to 2032) was not enacted, but the exemption was carried in HB 30, the 2026–2028 biennial budget: the conference report passed both chambers June 22, 2026 and was signed before the deadline, extending the exemption through 2028. Virginia bullion remains exempt. See our Norfolk gold IRA guide.
Sales tax on gold & silver bullion by state (2026)
Five states fully tax investment bullion as of August 2026: Hawaii, Maine, New Mexico, Vermont, and Washington. Maryland left that group on July 1, 2026, when its over-$1,000 exemption was restored statewide (SB 309/HB 500). Five states tax bullion 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 | Exempt over $1,000 | 6% tax added 2025 (HB 352); exemption restored July 1, 2026 for purchases over $1,000, statewide (SB 309/HB 500). Purchases of $1,000 or less remain taxable |
| 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 | Exemption preserved through 2028 in the HB 30 biennial budget (signed June 2026) after a scheduled June 30, 2026 sunset |
| Washington | Taxed | 6.5% state + local sales tax (combined 8.9% to 10.7% depending on locality), effective Jan 1, 2026; dealers also owe a 0.49% B&O tax on gross receipts that they typically absorb. Bullion carried zero sales tax in Washington before this date. |
| 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 |
Download the one-page 50-state PDF (updated Aug 21, 2026)
Printable reference. Washington detail prepared in consultation with Carolyn Beko, President, Washington Coin & Bullion Association.
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 from an in-state dealer if your state exempts bullion. Note that after Wayfair and state economic-nexus laws, most online dealers with meaningful volume into a taxing state (Hawaii, Maine, New Mexico, Vermont, Washington) are required to collect that state’s sales tax at delivery, so “buy online to avoid tax” is rarely legal today. Route (3) is to 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. Only Hawaii, Maine, New Mexico, Vermont, and Washington fully tax it. Maryland restored its over-$1,000 exemption on July 1, 2026, and Maryland, California, Connecticut, Massachusetts, and New York tax bullion only below a dollar threshold.
Did Washington start taxing gold and silver?
Yes. Effective January 1, 2026, Washington applies retail sales tax to precious-metal bullion sales: 6.5% state plus local, for a combined rate of 8.9% to 10.7% depending on locality. Dealers also owe the state’s 0.49% B&O tax on gross receipts, which they typically absorb against thin bullion margins. Bullion carried zero sales tax in Washington before this date.
Is Virginia still tax-free for bullion?
Yes. The exemption was scheduled to sunset June 30, 2026, but it was preserved through 2028 in the HB 30 biennial budget, signed in June 2026. Virginia bullion purchases remain exempt.
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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