Massachusetts

Massachusetts’s Gold & Silver Bullion Tax Laws

The state of Massachusetts levies taxes (6.25%) on the sale of gold, silver, and platinum bullion for orders below $1,000 but not for orders of $1,000 or more. Massachusetts also taxes capital gains on bullion. Massachusetts residents must also pay United States federal capital gains taxes on bullion.

State Information

• Massachusetts is a state in the New England region of the United States and is bordered by the Atlantic Ocean, the Gulf of Maine, Connecticut, Rhode Island, New Hampshire, Vermont, and New York.
• In 1788, Massachusetts became the 6th state in the United States.
• The capital of Massachusetts is Boston. Other cities include Worcester, Springfield, Cambridge, Lowell, and Brockton.
• Massachusetts had a population of 7,001,399 in 2023.
• Massachusetts’s real gross domestic product (GDP) was $615.15 billion in 2023, while the median household income was $89,026 in 2023.
• Massachusetts’s economy is based primarily on finance, insurance, real estate, professional and business services, education, healthcare, government and government enterprises, manufacturing, information, wholesale trade, and retail trade.

Economic and Personal Freedom Information

• Massachusetts ranks #39 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, Massachusetts ranks #26 in overall freedom, #32 in economic freedom, and #9 in personal freedom.
• Massachusetts ranks #36 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.