California

California’s Gold & Silver Bullion Tax Laws

The state of California levies taxes (7.25%) on the sale of gold, silver, and platinum bullion for orders below $2,000 but not for orders of $2,000 or more. California also taxes capital gains on bullion. California residents must also pay United States federal capital gains taxes on bullion.

Legislative Developments

• In 2023, California passed Article 7, Regulation 1599, exempting purchases of $2,000 or more in precious metals bullion from sales tax.

State Information

• California is in the Western region of the United States and is bordered by Oregon, Nevada, and Arizona, and Mexico to the south.
• In 1850, California became the 31^st state in the United States.
• The capital of California is Sacramento. Other cities include Los Angeles, San Diego, San Jose, San Francisco, Fresno, Long Beach, Oakland, Bakersfield, and Anaheim.
• California had a population of 38,940,231 in 2023.
• California’s real gross domestic product (GDP) was $3.23 trillion in 2023, while the median household income was $78,700 in 2023.
• California has a rich, diversified economy that is among the largest in the world. California's economy is larger than Africa and Australia and is nearly as large as South America. California’s most important industries include finance, insurance, real estate, professional and business services, information, manufacturing, government and government enterprises, education, healthcare, retail trade, wholesale trade, and entertainment.

Economic and Personal Freedom Information

• California ranks #46 on the Sound Money Index that ranks states based on their friendliness toward gold and silver bullion.
• According to the Freedom in the 50 States report, California ranks #48 in overall freedom, #48 in economic freedom, and #11 in personal freedom.
• California ranks #47 on the Rich States, Poor States index, which evaluates states based on economic competitiveness by considering tax and regulatory burdens, as well as labor policies.