New Mexico

New Mexico’s Gold & Silver Bullion Tax Laws

The state of New Mexico doesn’t have a sales tax on gold, silver, and platinum bullion, however, it has a gross receipts tax that businesses must pay. New Mexico also taxes capital gains on bullion. New Mexico residents must also pay United States federal capital gains taxes on bullion.

State Information

• New Mexico is a state in the Southwestern region of the United States and is bordered by Utah, Colorado, Arizona, Texas, Oklahoma, and Mexico.
• In 1912, New Mexico became the 47^th state in the United States.
• The capital of New Mexico is Santa Fe. Other cities include Albuquerque, Las Cruces, Rio Rancho, and Roswell.
• New Mexico had a population of 2,117,522 in 2020.
• New Mexico’s real gross domestic product (GDP) was $105.46 billion in 2023, while the median household income was $51,945 in 2020.
• New Mexico’s largest industries include government and government enterprises, finance, insurance, real estate, professional and business services, education, healthcare, mining, oil and gas extraction, and retail trade.

Economic and Personal Freedom Information

• New Mexico ranks #42 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, New Mexico ranks #35 in overall freedom, #41 in economic freedom, and #5 in personal freedom.
• New Mexico ranks #38 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.