Buying Gold and Silver in Oregon

TAXES IN OREGON

Not only does the state of Oregon have a rich history when it comes to gold, but this is also one of the best places to buy gold in the United States, because there is no sales tax on any purchase, regardless of the type or the amount. This lack of sales tax attracts investors from other states and also means that Oregon has a high percentage of gold and silver investors.

Capitals Gains Tax

All investments in Oregon, and indeed across all of the United States, are subject to capital gains tax when a profit is made on them. The actual rate you pay will depend on your personal income and circumstances, as well as your exact location. However, this rate carries a maximum of 28% and in many locations throughout the US this maximum is applied. Capital gains tax applies to all precious metal sales, but you only need to pay it when you sell your bullion, skimming some of the profit off the top and adding it to your tax return.

Tax Free Precious Metals

There is no sales tax on gold or silver bullion in the state of Oregon, and this applies across the state, regardless of the county. This creates a very competitive marketplace in the state, which means that many bullion dealers sell gold, silver, platinum and palladium for close to spot price. It has also attracted many dealers to the state, which means that as well as being one of the few US states where you can buy precious metals without any sales tax, Oregon is also one of the best places to buy a variety of coins, bars and rounds. Of course, this attracts interest from out of state, but trying to purchase precious metals in the state of Oregon before taking them out of state can create a number of issues, including additional shipping fees.

Source: http://www.oregon.gov/DOR/Pages/salestax.aspx

ABOUT OREGON

Dominated by the city of Portland, which is by far its most populated city, Oregon is located in the northwest of the United States, bordered by Washington, California, Nevada and Idaho. Whilst the city of Portland is where most Oregonians live, the capital of this state is actually Salem, where brands such as Flav-R-Pac and Santiam flourish. Salem is also the home of Kettle Foods, who make the Kettle chips that are sold across the United States and Europe.


Oregon is home to the deepest lake in the US, Crater Lake, whilst Hells Canyon claims the title of deepest river gorge on the entire North American continent.

Oregon Riches

Oregon, like many other states in the western US, has a long and rich history with precious metals. In fact, in 1858 in the Cascade Mountains, one of the world’s biggest gold finds was uncovered by the Bohemia Mining District, kick-starting Oregon’s own gold rush. Even to this day there are still many precious metal mining companies operating within the state, many of which focus on gold. This state is considered to be one of the best for gold prospecting across North America, and many mining companies and individual prospectors have uncovered personal fortunes on Oregon soil. There are many areas in this state that are rich in gold, but the primary prospecting regions are Jackson County, Josephine County and Douglas County. In fact, in Jackson County alone more than 500,000 ounces of gold has been discovered over the last 150 years or so, and if the mining companies and prospectors are to be believed, this region still has a lot more to give.

 

 

Note: GoldBroker cannot provide tax, legal, or other advice, so if you are not sure about the taxation to your personal circumstances, we recommend that you seek independent advice from a qualified professional.

All of these texts were accurate at the time of writing, but tax laws are constantly changing and it’s not easy to keep track of those changes. Because of this, we can not be held responsible for any false or out-of-date information.