Individual US States push for gold and silver legalization

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

BATON ROUGE, La. (May 15, 2024) – Today, the Louisiana House unanimously passed a bill that would make gold and silver legal tender in the state.

Sen. Mark Abraham filed Senate Bill 232 (SB232) on March 1. Under the proposed law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”

On May 15, the House passed SB232 by a 92-0 vote with some technical amendments. The Senate previously passed the bill by a 39-0 vote. It now goes back to the Senate for final consideration.

blog.tenthamendmentcenter.com

Louisiana House Passes Bill to Make Gold and Silver Legal Tender | Tenth Amendment Center

Under the proposed law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
 
(May 17, 2024) – Today, Alabama Governor Kay Ivey signed a bill into law repealing the state capital gains tax on gold and silver bullion.

Sen. Tim Melson introduced Senate Bill 297 (SB297) on April 4. Alabama repealed the state sales tax on gold, silver, platinum, and palladium bullion in 2018 and extended the exemption last year. The enactment of SB297 takes another step by effectively repealing the state capital gains tax on the exchange of gold and silver. Under the law, individuals selling gold or silver bullion, or utilizing gold and silver in a transaction, can deduct any net capital gain derived from the exchange from their income for state income tax purposes.
...
Click to expand...

blog.tenthamendmentcenter.com

Signed as Law: Alabama Repeals State Capital Gains Taxes on Gold and Silver | Tenth Amendment Center

Under the law, individuals selling gold or silver bullion, or utilizing gold and silver in a transaction, can deduct any net capital gain derived from the exchange from their income for state income tax purposes.
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
 
searcher said:
Update:

(Trenton, New Jersey) -- Senators in New Jersey have voted on Senate Bill 721 unanimously to end the sales tax on purchases of gold and silver.

For the second time in four months, the New Jersey Senate has voted unanimously to end their ourdated practice of taxing sound money. The Assembly bill, A2812, is expected to receive a hearing before the Commerce, Economic Development and Agriculture committee soon.

Earlier this year, A5294/S1825 had passed out of both committees and both chambers of the New Jersey legislature without a single "no" vote. This popular bill had more than a dozen cosponsors and had unanimous approval in each legislative chamber. Despite this, Gov. Murphy chose not to enact the bill into law.

www.soundmoneydefense.org

New Jersey Senate Unanimously Votes to End Sales Tax on Sound Money

Today, the New Jersey Senate voted unanimously, 38-0, to end the sales tax on purchases of gold and silver coins, bars, and rounds
www.soundmoneydefense.org www.soundmoneydefense.org
Click to expand...

Update:

TRENTON, N.J. (June 4, 2024) – Yesterday, a New Jersey Assembly committee unanimously passed a bill that would exempt gold and silver bullion from state sales and use taxes. It previously passed the full Senate.

Sen. Douglas Steinhardt and a bipartisan coalition of five cosponsors introduced Senate Bill 721 (S721) on Jan. 9. The legislation would exempt the sale of investment metal bullion (bars and coins) and investment coins from the state sales and use tax.

blog.tenthamendmentcenter.com

New Jersey Bill to Repeal Sales Taxes on Gold and Silver Clears Another Hurdle | Tenth Amendment Center

a New Jersey Assembly committee unanimously passed a bill that would exempt gold and silver bullion from state sales and use taxes. It previously passed the full Senate.
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
 
States should have their own depository and mint their own PM medals for resale and storage.
 
searcher said:
Update:

TRENTON, N.J. (June 4, 2024) – Yesterday, a New Jersey Assembly committee unanimously passed a bill that would exempt gold and silver bullion from state sales and use taxes. It previously passed the full Senate.

Sen. Douglas Steinhardt and a bipartisan coalition of five cosponsors introduced Senate Bill 721 (S721) on Jan. 9. The legislation would exempt the sale of investment metal bullion (bars and coins) and investment coins from the state sales and use tax.

blog.tenthamendmentcenter.com

New Jersey Bill to Repeal Sales Taxes on Gold and Silver Clears Another Hurdle | Tenth Amendment Center

a New Jersey Assembly committee unanimously passed a bill that would exempt gold and silver bullion from state sales and use taxes. It previously passed the full Senate.
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
Click to expand...

Update:

www.soundmoneydefense.org

New Jersey Legislature Again Votes Unanimously to End Taxes on Gold and Silver

For the second time in less than a year, the New Jersey legislature has voted to end the sales tax on purchases of gold and silver coins, bars, and rounds.
www.soundmoneydefense.org www.soundmoneydefense.org
 

Now in Effect: Louisiana Law Recognizes Gold and Silver as Legal Tender in the State​

By: Mike Maharrey | Published on: Aug 1, 2024|Categories: Federal Reserve, State Bills|

BATON ROUGE, La. (Aug 1, 2024) – As of today, gold and silver are officially recognized as money by the state of Louisiana.

Sen. Mark Abraham filed Senate Bill 232 (SB232) on March 1. Under the new law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”

The House passed SB232 by a 92-0 vote. The Senate concurred with a vote of 38-0. With Gov. Jeff Landry’s signature in May, the new law went into effect on Aug. 1.

Beyond the provisions to make gold and silver legal tender, the bill also specifies that “no person shall incur any liability for refusal to accept recognized legal tender for the payment of debts, except as provided by contract.”

blog.tenthamendmentcenter.com

Now in Effect: Louisiana Law Recognizes Gold and Silver as Legal Tender in the State | Tenth Amendment Center

Under the new law, “any gold or silver coin, specie or bullion issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
 
They should legalize all silver coins with a picture of a pot leaf on the reverse.

How about a new circulating $100 silver coin with Trump on the obverse and Grandaddy Purple on the reverse?
 
searcher said:
(Frankfort, Kentucky) -- In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature today deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law.

This action makes the Bluegrass State the 45th state in the nation to enact this sound money policy – and the second this year.

www.soundmoneydefense.org

After Illegal Veto, Kentucky Becomes 45th State to End Sales Taxes on Gold and Silver

In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature today deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law.
www.soundmoneydefense.org www.soundmoneydefense.org

Sal chimes in



Was @gringott involved?
Click to expand...



Update.

Kentucky Governor Plans to Collect Sales Tax on Gold and Silver Despite New Law

Kentucky Governor Andy Beshears signed the bill but used a line-item veto to strike out the sales tax exemption for gold and silver.
goldseek.com goldseek.com
 
searcher said:

Nebraska Senator Introduces Measure to Eliminate Income Taxes on Gold and Silver​

Senator Hansen from Nebraska has introduced Legislative Bill 1305, an anti-CBDC measure that also eliminates capital gains taxes from gold and silver
www.soundmoneydefense.org
www.soundmoneydefense.org
Click to expand...

Update:

www.soundmoneydefense.org

Tax-Grabbing Nebraska Politicians Taught a Lesson by Sound Money Supporters

In a powerful display of grassroots pressure, Nebraska politicians beat a hasty retreat this week after attempting a brazen tax grab that would have reimposed sales taxes on purchases of gold and silver in the Cornhusker State.
www.soundmoneydefense.org www.soundmoneydefense.org

Sal's take

 
searcher said:
Update:

www.soundmoneydefense.org

New Jersey Legislature Again Votes Unanimously to End Taxes on Gold and Silver

For the second time in less than a year, the New Jersey legislature has voted to end the sales tax on purchases of gold and silver coins, bars, and rounds.
www.soundmoneydefense.org www.soundmoneydefense.org
Click to expand...

@pmbug beat me to it but I'm already here so...............

goldseek.com

SIGNED INTO LAW: New Jersey Eliminates Sales Taxes on Gold and Silver

Sound money advocates celebrate as New Jersey’s Senate Bill 721 is signed into law, removing sales taxes on gold, silver, and other precious metals over $1,000 starting January 1, 2025.
goldseek.com goldseek.com
 

The BRICS Aren’t The Only Ones Turning To Gold...​

Oct 22, 2024 #silver #silverprice

Jp Cortez: BRICS Aren’t the Only Ones Turning to Gold...
While the BRICS Summit is finally underway today, they're not the only significant group that has been increasingly looking towards gold lately.
It's actually been happening in the states too. Where favorable precious metals legislation has been getting passed by the majority of the states, while the legislators that are signing it often cite the same underlying reasons that the BRICS countries do.
One of the people moving that effort forward is Jp Cortez of The Sound Money Defense League, and today he joins me on the show to give an update of what's happening with the states, and the impact it's having.
To find out more, click to watch the video now!


36:20
 
In this one Mario talks with Jp Cortez of the SMDL. It 41 mins long and presented as a podcast. Nothing to see, can listen in one tab, play around the forum in a different tab.

A Grassroots Battle Against the Fed's Money Monopoly. Jp Cortez of Sound Money Defense League​

Oct 26, 2024 #gold #silver #money

 
Fatrat said:
I believe Florida still has a sales tax for amounts under $500 dollars, can't have the plebes escaping...DeSantis has failed .
Click to expand...
You should give his office a call and tell him that.
 
Two bills filed in the Missouri Senate would officially recognize gold and silver as legal tender, eliminate state capital gains taxes on both, and ban support for any federal confiscation schemes.

Sen. Mike Moon introduced Senate Bill 25 (SB25). Under the “The Constitutional Money Act,” gold and silver would be accepted as legal tender in physical or electronic form, and would be receivable in payment of all debts contracted for in the state of Missouri.

The state would be required to accept gold and silver for the payment of public debts. Private debts could be settled in gold and silver at the parties’ discretion. The proposed law would also permit any entity doing business in this state to compensate its employees, in full or in part, in the dollar equivalent specie legal tender either in physical or in electronic transfer form.

The Director of the Department of Revenue would be tasked with “promulgating rules on the methods of acceptance of specie legal tender as payment for any debt, tax, fee, or obligation owed.”

The passage of SB25 would make Missouri the sixth state to recognize gold and silver as legal tender, as they always should have been doing. Utah led the way, reestablishing constitutional money in 2011. Wyoming, Oklahoma, Arkansas, and Louisiana have since joined.

Sen. Rick Brattin introduced Senate Bill 194 (SB194) with similar provisions. Additionally, it would ban the state from accepting central bank digital currency (CBDC) in payment, and would require the state to hold gold and silver equal to or greater than 1 percent of state funds.
...
Click to expand...

blog.tenthamendmentcenter.com

Missouri “Constitutional Money Act” Would Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Two bills filed in the Missouri Senate would officially recognize gold and silver as legal tender, eliminate state capital gains taxes on both, and ban support for any federal confiscation schemes.
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
 
Citizens for Sound Money (C4SM) extends its heartfelt gratitude to Florida’s Chief Financial Officer (CFO) Jimmy Patronis for his visionary leadership in advancing the study of gold and silver as legal tender. The recently announced $200,000 appropriations for this study marks a historic milestone in the pursuit of sound money principles in Florida, made possible through the tireless efforts of C4SM, the Christian Family Coalition (CFC), and the support of legislative champions in the House and Senate.
...
... If the Sound Money Act passes this session, Florida will become the first state on the East Coast and the largest state in the nation to recognize gold and silver as legal tender. Currently, six states — Utah, Wyoming, Oklahoma, Arizona, Arkansas, and Louisiana — have enacted similar legislation.

CFO Patronis’ initiative will explore innovative solutions to restore Floridians' financial sovereignty by examining the feasibility of gold and silver bullion as transactional legal tender. As advocates for sound money, C4SM is proud to have played a critical role in promoting the legislative framework and rallying support from Florida’s House and Senate, as well as the CFO’s and Governor’s offices, to prioritize this essential study. In a bipartisan effort, C4SM and CFC met with nearly 100 legislators to lobby and educate them on the importance of sound money principles, further solidifying the groundwork for this initiative.
...
Click to expand...

 
pmbug said:
Click to expand...

More:

Could gold & silver become currency in Florida?​

Dec 11, 2024

Precious metals like gold and silver are not legal tender under Florida law. However, if the state's chief financial officer gets his way, that could change. Florida CFO Jimmy Patronis, who's also running for a vacant seat in Congress, is launching a study by the Florida Department of Financial Services to determine how gold and silver could be used to buy goods and services in the state. The study will focus on physical gold and silver as bars and coins.
READ: https://www.fox13news.com/news/could-...


2:21
 
None of these state initiatives and legislations would be there without the lobbying work of sound money organisations.
How classy for Kinesis to remember Citizens for Sound Money president Jim Forsythe on their 250mg Aurum bills.


Screenshot 2024-12-22 at 10.56.34.png
 
pmbug said:
blog.tenthamendmentcenter.com

Missouri “Constitutional Money Act” Would Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Two bills filed in the Missouri Senate would officially recognize gold and silver as legal tender, eliminate state capital gains taxes on both, and ban support for any federal confiscation schemes.
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
Click to expand...

Update:

blog.tenthamendmentcenter.com

Constitutional Money Act Filed in Missouri House | Tenth Amendment Center

Two bills filed in the Missouri House would officially recognize gold and silver as legal tender, eliminate state capital gains taxes on both, and ban support for any federal confiscation schemes.
blog.tenthamendmentcenter.com blog.tenthamendmentcenter.com
 
You must log in or register to reply here.
Back
Top Bottom