Virginia

Virginia’s Gold & Silver Bullion Tax Laws

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

Legislative Developments

• In 2017, Virginia exempted precious metals bullion orders of $1,000 or greater from the state’s sales tax.
• In 2022, Virginia exempted all precious metals bullion orders from the state’s sales tax.

State Information

• Virginia is a state in the Southeastern and Mid-Atlantic regions of the United States and is bordered by North Carolina, Kentucky, West Virginia, Maryland, Washington, D.C., the Chesapeake Bay, and the Atlantic Ocean.
• In 1788, Virginia became the 10^th state in the United States.
• The capital of Virginia is Richmond. Other cities include Virginia Beach, Chesapeake, Arlington, Norfolk, Richmond, and Newport News.
• Virginia had a population of 8,715,698 in 2023.
• Virginia’s real gross domestic product (GDP) was $590.8 billion in 2023, while the median household income was $80,615 in 2023.
• Virginia’s largest industries include professional and business services, finance, insurance, real estate, government and government enterprises, manufacturing, education, healthcare, information, retail trade, and wholesale trade.

Economic and Personal Freedom Information

• Virginia ranks #30 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, Virginia ranks #12 in overall freedom, #18 in economic freedom, and #12 in personal freedom.
• Virginia ranks #22 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.