Tennessee

Tennessee’s Gold & Silver Bullion Tax Laws

The state of Tennessee doesn’t levy taxes on the sale of gold, silver, and platinum bullion nor does it tax capital gains. Tennessee residents must pay United States federal capital gains taxes, however.

Legislative Developments

• In 2022, Tennessee exempted precious metals bullion from the state’s sales tax.

State Information

• Tennessee is a state in the Southeastern region of the United States and is bordered by Kentucky, Virginia, North Carolina, Georgia, Alabama, Mississippi, Arkansas, and Missouri.
• In 1796, Tennessee became the 16^th state in the United States.
• The capital of Tennessee is Nashville. Other cities include Memphis, Knoxville, Chattanooga, Clarksville, Murfreesboro, Franklin, and Johnson City.
• Tennessee had a population of 7,126,489 in 2023.
• Tennessee’s real gross domestic product (GDP) was $425.41 billion in 2023, while the median household income was $58,516 in 2021.
• Tennessee’s largest industries include finance, insurance, real estate, manufacturing, professional and business services, education, healthcare, government and government enterprises, arts, recreation, accommodation, wholesale trade, and retail trade.

Economic and Personal Freedom Information

• Tennessee ranks #11 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, Tennessee ranks #6 in overall freedom, #4 in economic freedom, and #41 in personal freedom.
• Tennessee ranks #12 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.