In this week’s Friday Gold Wrap Podcast, JD and Joel discuss why gold is down today, why the Fed could replay 2008, and other market and precious metals news.
A bill introduced in the Wisconsin Senate would create a state sales tax exemption on the sale of gold and silver bullion. By effectively repealing the sales tax, the bill would relieve some of the tax burden on investors, and take a step toward treating precious metal bullion as money instead of a commodity.
A bill introduced in the Alaska House would exempt gold and silver bullion from local sales tax and make them both legal tender in the state. Ending the sales tax would relieve some of the tax burden on investors, and take a step toward treating precious metal bullion as money instead of a commodity.
Last week, Tennessee Gov. Bill Lee signed a bill repealing the sales tax on the sale of precious metal bullion. Ending the sales tax will relieve some of the tax burdens on investors, and take a step toward treating gold and silver as money instead of as commodities.
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.
Bills introduced in the Mississippi House and the Tennessee Senate would repeal state sales taxes on precious metals bullion. This would not only relieve some of the tax burdens on investors in those states; it would also take a small step toward treating gold and silver as money instead of commodities.
Three more states are moving toward repealing taxes on the sale of gold and silver bullion.
Last week, Alabama Gov. Kay Ivey signed a bill into law exempting the sale of gold and silver bullion from state sales and use tax. The repeal of the tax not only lowers the cost of investing in gold and silver, it will also open the door to using precious metals in everyday transactions, and it takes the first step toward breaking the Federal Reserve’s monopoly on money.
