North Carolina Sound Money Act — HB 836 (2025)

Overview

• In April 2025, lawmakers introduced House Bill 836, also known as the North Carolina Sound Money Act.

• This bill proposes:

  • Recognition of gold and silver, specifically investment coins and metal bullion marked with weight and purity, as legal tender.

  • Personal income tax deductions for the gain or loss from using these precious metals in transactions—eliminating capital gains taxation for such exchanges.

• Notably, HB 836 does not require anyone to accept gold or silver; acceptance remains voluntary, solely based on agreement between parties.

Effective Dates

• The income tax deduction becomes effective starting with the 2025 tax year.

• The legal tender recognition portion of the bill is scheduled to go into effect October 1, 2025, pending enactment.