Maine Precious Metals Tax Information



Maine has a 5.5% sales tax and there have been legislative efforts to exempt gold and silver bullion and coins from this tax. A bill (LD1051) was passed by the Maine Senate in May 2023 aiming to remove this tax, with an intended effective date of January 1, 2024.


However, the final outcome of this bill and its implementation are unclear. It's recommended to consult the Maine Revenue Services or a qualified professional for the most up-to-date and accurate information.


PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF MAINE. IT IS ONLY INTENDED TO PROVIDE THE READER WITH A BRIEF OVERVIEW OF THOSE SALES TAX LAWS AND REQUIREMENTS CURRENTLY IN EFFECT IN THE STATE OF MAINE THAT RELATE TO THE READER’S TRANSACTIONS WITH ITM TRADING. IF YOU WOULD LIKE TO RESEARCH THE SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF MAINE, WE SUGGEST YOU VISIT MAINE REVENUE SERVICES LOCATED AT https://www.maine.gov/revenue/.