Utah

Utah’s Gold & Silver Bullion Tax Laws

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

State Information

• Utah is a state in the Western United States and is bordered by Colorado, Wyoming, Idaho, Arizona, and New Mexico.
• In 1896, Utah became the 45^th state in the United States.
• The capital of Utah is Salt Lake City. Other cities include Provo, Orem, Sandy, Ogden, and Layton.
• Utah had a population of 3,271,616 in 2020.
• Utah’s real gross domestic product (GDP) was $219.18 billion in 2023, while the median household income was $60,365 in 2023.
• Utah’s largest industries include finance, insurance, real estate, professional and business services, manufacturing, government and government enterprises, education, healthcare, retail trade, construction, and information.

Economic and Personal Freedom Information

• Utah ranks #7 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, Utah ranks #22 in overall freedom, #23 in economic freedom, and #26 in personal freedom.
• Utah ranks #1 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.