Minnesota

Minnesota’s Gold & Silver Bullion Tax Laws

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

Legislative Developments

• In 2017, Minnesota exempted precious metals bullion from the state sales tax.

State Information

• Minnesota is a state in the Midwest region of the United States and is bordered by Canada, Wisconsin, Iowa, North Dakota, and South Dakota.
• In 1858, Minnesota became the 32^nd state in the United States.
• The capital of Minnesota is Saint Paul. Other cities include Minneapolis, Rochester, Bloomington, and Duluth.
• Minnesota had a population of 5,737,915 in 2023.
• Minnesota’s real gross domestic product (GDP) was $379.11 billion in 2023, while the median household income was $77,720 in 2023.
• Minnesota’s economy is based primarily on finance, insurance, real estate, professional and business services, manufacturing, education, healthcare, government and government enterprises, wholesale trade, and retail trade.

Economic and Personal Freedom Information

• Minnesota ranks #47 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, Minnesota ranks #41 in overall freedom, #40 in economic freedom, and #20 in personal freedom.
• Minnesota ranks #44 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.