Individual US States push for gold and silver legalization

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 Alabama repealed the state sales tax on gold, silver, platinum, and palladium bullion in 2018 and extended the exemption last year.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

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

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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.

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

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

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.

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?

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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

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