Category Archives: Tax on Gold

2022 Could Be “Year of Sound Money” in States

By Jp Cortez – Money Metals Exchange …… Last year was a good year for state-level sound money legislation across the United States. 2022 could be even better. Building on the success enjoyed by sound money advocates in Arkansas and Ohio last year, more than a half dozen states are now considering legislation that rolls […]

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Oklahoma to Consider Holding Gold and Silver, Removing Income Taxes

By Jp Cortez – Money Metals Exchange …… On Thursday, January 20, an Oklahoma state representative introduced legislation that would enable the State Treasurer to protect Sooner State funds from inflation and financial risk by holding physical gold and silver. Introduced by State Representative Sean Roberts (R-36), HB 3681 would include physical gold and silver, […]

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West Virginia Legislature Votes to End Sales Tax on Gold & Silver

By Sound Money Defense League ……   Sound money advocates rejoiced on Friday, March 8 as the state legislature of West Virginia overwhelmingly passed Senate Bill 502 and sent it to Governor Jim Justice for his signature. First passed unanimously in the West Virginia Senate last month, the measure removes state sales taxation of precious […]

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Internet Sales Tax? Supreme Court Ruling Alarming

  Numismatists should be worried about how the hobby will be affected by a labyrinth of tax rules By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… Several months ago, I received the dreaded letter from the State of Kentucky notifying me that my company would be undergoing a four-year sales tax audit. Even though […]

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Precious Metals & Bullion News – Wyoming Ends All Taxation of Gold & Silver

By Money Metals Exchange …… Sound money activists rejoiced as the Wyoming Legal Tender Act (PDF) became law today. The bill restores constitutional, sound money in Wyoming. Backed by the Sound Money Defense League, Campaign for Liberty, Money Metals Exchange, and in-state grassroots activists, HB 103 removes all forms of state taxation on gold and […]

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Gold & Silver PAC July 2017 e-Newsletter

Gold & Silver American Eagle Coins By Scott Barman for the Gold & Silver PAC ….. From the Political Coordinator During a meeting of the Gold & Silver PAC at the National Money Show in March 2013, members were provided a chance to meet with Representative Steve Scalise (R-LA1), the Republican representative from New Orleans. Scalise […]

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Louisiana Coins and Precious Metals Bullion Exemption Enacted

By Industry Council for Tangible Assets ….. Last year, the Louisiana legislature, facing a $900 million deficit, held a special legislative session and increased Louisiana’s 4% sales tax to 5%. In addition to increasing the state sales tax, it eliminated nearly all tax exemptions and exclusions–including numismatic coins and precious metals bullion exemptions–for three months, […]

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Gold, Precious Metals & Bullion News – Minnesota Sales Tax Exemption Enacted

By Industry Council for Tangible Assets ….. On May 30, 2017, Minnesota governor Mark Dayton signed into law omnibus bill H1A, which included a sales-tax exemption on precious-metals bullion. (An omnibus bill is a proposed law that covers many diverse or unrelated topics.) The new law will take effect on July 1, 2017. Minnesota becomes […]

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Secret Gold Vaults in the Swiss Alps

By Everett Millman – Gainesville Coins ……. Switzerland has long had a reputation—sometimes a dubious one—for being a safe place to stash one’s wealth away from the prying eyes of tax authorities. Right or wrong, the notion of a “Swiss bank account” is synonymous with evading taxation. Now, the ultra-rich seem to have discovered a […]

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