Rules of Gold in Florida

When you buy bullion in Florida: investment-grade bullion is exempt from state sales tax. The exemption typically covers gold, silver, platinum, and palladium meeting standard investment-grade purity. Verify the exemption applies to your specific purchase — definitions and minimum-purity thresholds vary by statute.

When you sell or otherwise realize a gain: Florida has no state income tax, so capital gains on bullion sales aren’t taxed at the state level. Federal capital-gains tax still applies — the 28% collectibles rate for physical bullion held more than a year is the typical case.

On state legal tender: Florida recognizes gold and silver coin as legal tender at the state level. Practically, specie can be used to settle private debts in-state and gains from specie transactions may be excluded from state taxation under related provisions. It does not obligate retailers to accept bullion in payment.

On state depository: legislation authorizes a state depository but operations haven’t commenced. Expect a startup window for facility, governance, and audit setup. Until then, private depositories handle storage.