New Mexico Sales Tax on Gold and Silver
CHECKED 2026-10-28. NOT TAX ADVICE.
New Mexico charges gross receipts tax on gold and silver bullion; no bullion exemption was found.
New Mexico taxes sellers' gross receipts instead of a standard sales tax, and sellers usually pass it to the buyer. A compiled guide says no exemption exists for precious metals. A 2026 bill (SB 174) that would have deducted gold and silver coin and bullion sales is listed as dead. No New Mexico tax department page could be opened, so this rests on compiled sources.
General state sales tax rate: 4.88%. SB 174 (2026) listed as dead on 02/19/2026 per BillTrack50 (https://www.billtrack50.com/billdetail/1956106). State rate is the gross receipts rate; local rates add to it.
Where this comes from
GoldBroker: Gold and Silver Taxes in New Mexico (with bill tracker for SB 174 checked at BillTrack50) (a compiled source, not the state agency itself). Checked 2026-10-28. Local sales taxes and rules for specific items can differ, so read the source before you rely on it.
Under IRS Form 1099-B instructions, a sale of precious metals in a form and quantity that matches a CFTC-approved futures contract (for example, at least 25 gold coins of a covered type) can require the broker or dealer to report it; a single coin sale does not, and sales to the same customer within 24 hours are added together. irs.gov
General information only. This is not tax advice. Rules change and have exceptions.
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Quick answers
Does New Mexico charge sales tax on gold and silver bullion?
New Mexico charges gross receipts tax on gold and silver bullion; no bullion exemption was found. New Mexico taxes sellers' gross receipts instead of a standard sales tax, and sellers usually pass it to the buyer. A compiled guide says no exemption exists for precious metals. A 2026 bill (SB 174) that would have deducted gold and silver coin and bullion sales is listed as dead. No New Mexico tax department page could be opened, so this rests on compiled sources.
Where does this New Mexico rule come from?
GoldBroker: Gold and Silver Taxes in New Mexico (with bill tracker for SB 174 checked at BillTrack50) (a compiled source, not the state agency itself): https://goldbroker.com/investing-guide/precious-metals-taxation/new-mexico. Lustre checked it on 2026-10-28.
Is this tax advice?
No. It is general information from the source above. Rules change and have exceptions. Check with the state tax agency or a tax professional.