Individual US States push for gold and silver legalization

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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.

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

 

[pmbug]

(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 Alabama repealed the state sales tax on gold, silver, platinum, and palladium bullion in 2018 and extended the exemption last year.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.
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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

 

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Why It’s Time to Stop Taxing Gold & Silver

It’s unfair for the U.S. government to tax capital gains on gold and silver. Those “gains” are the result of the debasement of paper money, which is the fault of the U.S. government!

goldseek.com

 

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Louisiana Reaffirms Gold and Silver As Legal Tender

Louisiana Gov. Jeff Landry has signed a new law reaffirming gold and silver as legal tender, making a symbolic statement in favor of sound money principles.

www.soundmoneydefense.org

 

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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.

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

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.

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

 

[nickndfl]

States should have their own depository and mint their own PM medals for resale and storage.

 

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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.

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

Update:

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

 

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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.”

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

 

[nickndfl]

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?

 

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(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.

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

Sal chimes in



Was @gringott involved?

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

 

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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

Update:

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

Sal's take