Idaho

Idaho’s Gold & Silver Bullion Tax Laws

The state of Idaho doesn’t levy taxes on the sale of gold, silver, and platinum bullion but it taxes capital gains. Idaho residents also pay United States federal capital gains taxes.

Legislative Developments

• In 2017, the Idaho House of Representatives voted to exempt gold and silver bullion from state sales taxes.
• In 2024, a bill was introduced in the Idaho House that would make gold and silver legal tender in the state and would repeal all state taxes on bullion including the capital gains tax.

State Information

• Idaho is a state in the Mountain West region of the United States and is bordered by Canada, Montana, Wyoming, Nevada, Utah, Washington, and Oregon.
• In 1890, Idaho became the 43^rd state in the United States.
• The capital of Idaho is Boise. Other cities include Meridian, Nampa, Caldwell, Twin Falls, Idaho Falls, and Pocatello.
• Idaho had a population of 1,964,726 in 2023.
• Idaho’s real gross domestic product (GDP) was $94.91 billion in 2023, while the median household income was $72,580 in 2022.
• Idaho’s economy is based primarily on finance, insurance, real estate, professional and business services, government and government enterprises, manufacturing, education, healthcare, retail trade, wholesale trade, construction, and tourism.

Economic and Personal Freedom Information

• Idaho ranks #12 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, Idaho ranks #14 in overall freedom, #7 in economic freedom, and #49 in personal freedom.
• Idaho ranks #2 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.