On August 1, a law making gold and silver legal tender in Arkansas went into effect. The new law also effectively repeals the state capital gains tax on gold and silver.
Enactment of this legislation will relieve some of the tax burden on investors, and take a step toward treating precious metal bullion as money instead of a commodity.
Arkansas Gov. Sarah Huckabee Sanders has signed a bill into law making gold and silver legal tender in the state. The new law also effectively repeals the state capital gains tax on gold and silver. Enactment of this legislation will relieve some of the tax burden on investors, and take a step toward treating precious metal bullion as money instead of a commodity.
The Arkansas Senate has passed a bill that would exempt gold and silver bullion and coins from sales tax. This would not only relieve some of the tax burdens on investors in the state; it would also take a small step toward treating gold and silver as money instead of as commodities.
