Eliminating capital gains tax on certain precious metals

SB 926, introduced in the West Virginia Senate on February 12, 2026, proposes to eliminate state capital gains tax on the sale or exchange of certain precious metal bullion. The bill would amend West Virginia's tax code to exclude gains from selling gold, silver, platinum, or palladium bullion from taxable adjusted gross income. This change would directly affect West Virginia residents who sell qualifying precious metals, reducing their state tax liability on those transactions. The bill is currently pending in the Senate Finance Committee and has not yet been enacted into law.