Four States Consider Eliminating (Some) Taxes on Precious Metals
Posted by freedomforall 2 months, 3 weeks ago to Government
Excerpt:
"Citizens of Georgia, Kentucky, Wisconsin, and Kansas may soon enjoy lower taxes on precious metals if recently introduced pro-metal bills are made law in 2024.
Earlier this month, all four states introduced or reintroduced bills that would exempt precious metals from either state sales tax (in Kentucky and Wisconsin) or state income tax (in Georgia and Kansas).
Kentucky lawmakers will vote on House Bill 101 and Senate Bill 105 in this year’s legislative session. If passed, the bills would end state sales tax on gold, silver, platinum, and palladium bullion starting in August of this year. Wisconsin’s Assembly Bill 29 and Senate Bill 33 would both enact similar provisions while also lifting sales tax on the purchase of copper bullion.
Proponents of these bills point out that gold and silver are one of the only asset classes that have sales taxes; investors don’t have to pay sales tax on more common investments, like stocks and bonds.
...
Both Kansas and Georgia eliminated sales taxes on bullion in the past and are now taking the next logical step in facilitating the use of sound money. House Bill 895 in Georgia and House Bill 2405 and Senate Bill 303 in Kansas would lift state capital gains taxes on precious metals, leaving only the federal capital gains tax on income earned from holding gold or silver.
Kansas’ two bills also explicitly reaffirm that gold and silver are legal tender in the state and ensure physical metal can be used voluntarily as currency, establishing a relatively free market in money."
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Naturally the Deep State thieving feds will still tax all exchanges of precious metals because the thieves in D.C. and on Wall St don't want anyone to escape their ability to manipulate value of 'investments.'
"Citizens of Georgia, Kentucky, Wisconsin, and Kansas may soon enjoy lower taxes on precious metals if recently introduced pro-metal bills are made law in 2024.
Earlier this month, all four states introduced or reintroduced bills that would exempt precious metals from either state sales tax (in Kentucky and Wisconsin) or state income tax (in Georgia and Kansas).
Kentucky lawmakers will vote on House Bill 101 and Senate Bill 105 in this year’s legislative session. If passed, the bills would end state sales tax on gold, silver, platinum, and palladium bullion starting in August of this year. Wisconsin’s Assembly Bill 29 and Senate Bill 33 would both enact similar provisions while also lifting sales tax on the purchase of copper bullion.
Proponents of these bills point out that gold and silver are one of the only asset classes that have sales taxes; investors don’t have to pay sales tax on more common investments, like stocks and bonds.
...
Both Kansas and Georgia eliminated sales taxes on bullion in the past and are now taking the next logical step in facilitating the use of sound money. House Bill 895 in Georgia and House Bill 2405 and Senate Bill 303 in Kansas would lift state capital gains taxes on precious metals, leaving only the federal capital gains tax on income earned from holding gold or silver.
Kansas’ two bills also explicitly reaffirm that gold and silver are legal tender in the state and ensure physical metal can be used voluntarily as currency, establishing a relatively free market in money."
--------------------------------------------
Naturally the Deep State thieving feds will still tax all exchanges of precious metals because the thieves in D.C. and on Wall St don't want anyone to escape their ability to manipulate value of 'investments.'
