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If you're buying or selling gold in Idaho (ID), you benefit from one of the most comprehensive precious metals tax exemptions in the United States. Idaho exempts all purchases of qualifying precious metals from sales tax and has also eliminated state-level capital gains tax on precious metals — meaning Idaho investors face no state tax burden when either buying or selling qualifying bullion.
Only federal capital gains tax applies when precious metals are sold at a profit.
Precious metals such as gold and silver are classified as collectibles under U.S. federal tax law. Profits realized when selling investment metals may therefore be subject to federal capital gains tax, with a maximum rate of 28%, depending on income level and holding period.
Capital gains tax generally applies when metals are sold for fiat currency or exchanged for goods and services. No tax is due simply for purchasing or holding bullion.
In March 2025, Idaho formally ended state income taxes on gold and silver as part of its largest tax cut in state history. House Bill 40 eliminated capital gains tax on precious metals by allowing taxpayers to deduct any net capital gains or losses from qualifying precious metal bullion or monetized bullion from their Idaho taxable income. This means Idaho residents pay no state-level tax when selling precious metals at a profit.
Idaho provides a comprehensive sales tax exemption for precious metals under Idaho Statute 63-3622V. The exemption covers all qualifying bullion and monetized bullion, regardless of purity level, form, or transaction size — with no minimum purchase threshold.
Under Idaho law, the exemption applies to:
The exemption does not extend to jewelry, works of art, or medallions and tokens created to commemorate historical events whose value is based on form rather than metal content.
Idaho's statewide sales tax rate is 6%, but this does not apply to qualifying precious metals purchases.
Idaho is one of the most tax-friendly states in the United States for precious metals investors. The combination of a long-standing sales tax exemption on all qualifying bullion and the recent elimination of state capital gains tax on precious metals means Idaho investors face no state-level tax at either the point of purchase or the point of sale.
Only federal capital gains tax applies. In 2025, Idaho also signed HB 177 into law, reaffirming gold and silver as constitutional legal tender. These combined measures make Idaho one of the leading states for precious metals investment in the country.
Idaho, United States residents are solely responsible for verifying applicable tax laws before purchasing or selling precious metals. GoldBroker is not liable for any tax obligations arising from transactions.