Idaho, USA, has become the 14th state to remove state income tax on silver and other precious metals.
Governor Brad Little signed the legislation into law in March as part of a $253 million tax reform package, which lowered the overall income tax rate from 5.695% to 5.3% and included an exemption for precious metals.
For tax purposes, the exemption applies to investment-grade precious metals—such as silver, gold, platinum, and palladium—in coin or bar form that meet specific purity requirements.
Idaho already offered a sales tax exemption on precious metal purchases, and this new law now extends tax relief to income earned from their sale. Later that same month, Governor Little also enacted the Idaho Constitutional Money Act of 2025, formally recognizing silver and gold as legal tender.
Economically, Idaho ranks mid-level among U.S. states in terms of industrial growth. During the 20th century, the state shifted from its traditional reliance on agriculture, logging, and mining to a more industrialized economy, also becoming a leading state in tourism revenue.