You are here
Idaho eliminates income taxes on gold and silver
From Money Metals News Service
Eagle, Idaho
Friday, March 7, 2025
Idaho yesterday formally ended state income taxes on gold and silver as part of its largest tax cut in state history.
House Bill 40, sponsored by House Speaker Mike Moyle and begrudgingly signed by the state's liberal Republican governor, Brad Little, provides a sweeping $253 million income tax cut for Idaho taxpayers by lowering the rate from 5.695% to 5.3% while also adding two specific exemptions.
... Dispatch continues below ...
... ADVERTISEMENT ...
Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico
Guanajuato Silver is a precious metals producer reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo Mines Complex, Valenciana Mines Complex, and the San Ignacio mine. All three mines are located within the state of Guanajuato, which has a 480-year mining history.
Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango state.
With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
For more information, please visit:
The new law includes a tax-neutral provision whereby taxpayers back out any "net capital gains or losses that meet the definition of precious metal bullion or monetized bullion ... included in the taxpayer's federal adjusted gross income."
Idaho already had a long-standing sales tax exemption on purchases of precious metals. By exempting income connected with precious metals sales, it now becomes less difficult for gold and silver to resume their constitutional role as money in Idaho. All tax cuts contained in HB 40 take effect as of January 1, 2025, pursuant to the bill's emergency provisions. ...
... For the remainder of the report:
https://www.moneymetals.com/news/2025/03/07/idaho-eliminates-income-taxes-on-gold-and-silver-003891
* * *
GATA is grateful to these companies for their recent support:
Apollo Silver Corp.
Barksdale Resources
Dolly Varden Silver Corp.
Dryden Gold Corp.
Group Eleven Resources
Guanajuato Silver
IBK Capital Corp.
Independent Trading Group
Mining Discovery
Power Nickel
Silver North
Strike Point Gold
The National Investor
The Prospector
Western Alaska Minerals
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
