Maine

Maine’s Gold & Silver Bullion Tax Laws

The state of Maine levies taxes (5.5%) on the sale of gold, silver, and platinum bullion. Maine also taxes capital gains on bullion. Maine residents must also pay United States federal capital gains taxes on bullion.

Legislative Developments

• In 2017, there was an attempt to exempt bullion from state sales taxes, but the bill was never signed into law.

State Information

• Maine is a state in the New England region of the United States and is bordered by New Hampshire, the Gulf of Maine, and Canada.
• In 1820, Maine became the 23^rd state in the United States.
• The capital of Maine is Augusta. Other cities include Portland, Lewiston, and Bangor.
• Maine had a population of 1,362,359 in 2020.
• Maine’s real gross domestic product (GDP) was $73.78 billion in 2023, while the median household income was $56,277 in 2020.
• Maine’s economy is based primarily on finance, insurance, real estate, professional and business services, education, healthcare, government and government enterprises, manufacturing, retail trade, and tourism.

Economic and Personal Freedom Information

• Maine ranks #48 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, Maine ranks #43 in overall freedom, #45 in economic freedom, and #3 in personal freedom.
• Maine ranks #45 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.