West Virginia

West Virginia’s Gold & Silver Bullion Tax Laws

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

Legislative Developments

• In 2019, West Virginia exempted precious metals bullion from the state’s sales tax.
• In 2022, West Virginia exempted smaller purchases of bullion from the state’s sales tax.

State Information

• West Virginia is a state in the Southern and Mid-Atlantic regions of the United States and is bordered by Pennsylvania, Maryland, Virginia, Kentucky, and Ohio.
• In 1863, West Virginia became the 35^th state in the United States.
• The capital of West Virginia is Charleston. Other cities include Huntington, Morgantown, and Parkersburg.
• West Virginia had a population of 1,793,716 in 2020.
• West Virginia’s real gross domestic product (GDP) was $80.14 billion in 2023, while the median household income was $43,469 in 2020.
• West Virginia’s largest industries include government and government enterprises, finance, insurance, real estate, mining, education, healthcare, manufacturing, professional and business services, retail trade, and wholesale trade.

Economic and Personal Freedom Information

• West Virginia ranks #35 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, West Virginia ranks #32 in overall freedom, #35 in economic freedom, and #10 in personal freedom.
• West Virginia ranks #23 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.