Ohio

Ohio’s Gold & Silver Bullion Tax Laws

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

Legislative Developments

• In 2021, Ohio exempted precious metals bullion from the state’s sales tax.

State Information

• Ohio is a state in the Midwestern region of the United States and is bordered by Lake Erie, Pennsylvania, West Virginia, Kentucky, Indiana, and Michigan.
• In 1803, Ohio became the 17^th state in the United States.
• The capital of Ohio is Columbus. Other cities include Cleveland, Cincinnati, Toledo, Akron, and Dayton.
• Ohio had a population of 11,785,935 in 2023.
• Ohio’s real gross domestic product (GDP) was $698.22 billion in 2023, while the median household income was $54,021 in 2022.
• Ohio’s largest industries include finance, insurance, real estate, manufacturing, professional and business services, government and government enterprises, education, healthcare, wholesale trade, and retail trade.

Economic and Personal Freedom Information

• Ohio ranks #25 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, Ohio ranks #21 in overall freedom, #22 in economic freedom, and #29 in personal freedom.
• Ohio ranks #26 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.