Rhode Island

Rhode Island’s Gold & Silver Bullion Tax Laws

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

State Information

• Rhode Island is a state in the New England region of the United States and is bordered by Connecticut, Massachusetts, the Atlantic Ocean, the Rhode Island Sound, and Block Island Sound.
• In 1790, Rhode Island became the 13^th state in the United States.
• The capital of Rhode Island is Providence. Other cities include Cranston, Warwick, and Pawtucket.
• Rhode Island had a population of 1,098,163 in 2020.
• Rhode Island’s real gross domestic product (GDP) was $63.17 billion in 2023, while the median household income was $63,870 in 2020.
• Rhode Island’s largest industries include finance, insurance, real estate, professional and business services, education, healthcare, government and government enterprises, manufacturing, retail trade, and wholesale trade.

Economic and Personal Freedom Information

• Rhode Island ranks #31 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, Rhode Island ranks #36 in overall freedom, #37 in economic freedom, and #15 in personal freedom.
• Rhode Island ranks #39 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.