State tax guide · verified 2026-08-28

Does New Mexico charge sales tax on gold and silver?

Yes, effectively. New Mexico's gross receipts tax applies to bullion sales with no investment-metal exemption.

• Rate: Gross receipts tax; the combined rate varies by location, roughly 5% to 9%
• Like Hawaii, New Mexico taxes the seller's receipts rather than levying a formal sales tax, but dealers pass it through to buyers as a matter of course.
• Verify with: New Mexico Taxation and Revenue Department

• Sales tax on gold & silver, state by state
• Sales tax on gold and silver in Canada