Comments

  • RocketDogRocketDog Posts: 619 Silver ✭✭✭✭
    Thanks for posting @G0ldNRoll, that is really good news.

    I can just see Hillary getting angry at those "flyover state deplorables" who dare to use gold and silver as money. And not tax it! "Imbeciles!"

    Under Obama, the federal government retaliated against private entities who attempted this. I don't know about other states' initiatives. I would think that under President Trump, with a new Supreme Court justice, interested in liberty, that it might be safe for other states to follow suit at this time. I hope so.
  • GoldNRollGoldNRoll Posts: 134 Bronze ✭✭✭
    @RocketDog

    In 2017, Arizona, Louisiana, Virginia, Texas, and North Carolina, and even Minnesota made progress on the sound money front. In 2018, other states could do so as well.

    Thirty-six states have already removed sales taxes from precious metals transactions, and bills being introduced this year by sound money advocates in Alabama and Tennessee could add to that list.

    Both Utah and Oklahoma have already passed legal tender laws recognizing gold and silver as money. The monetary metals can be used freely as a means of payment.

    Meanwhile, a new Wyoming bill next month would repeal both sales and income taxes on bullion while affirming gold and silver as legal tender and strengthening gold clause contracts.

    Other states, including Arizona and Idaho, have moved forward on legislation to exempt gold and silver bullion from capital gains taxes.

    Last year, a bill to eliminate capital gains taxes on precious metals passed the Idaho House.

    https://tenthamendmentcenter.com/2018/01/25/states-are-knocking-down-gold-and-silver-barriers/
  • GoldNRollGoldNRoll Posts: 134 Bronze ✭✭✭
    @RocketDog By the way, in which state do you live? Maybe we can find the status of gold and silver legal tender there
  • RocketDogRocketDog Posts: 619 Silver ✭✭✭✭
    Hey @GoldnRoll, thanks for the information. I currently live in Ohio. Ohio has lots of regulations. I would be surprised if they are deregulating gold. (But I hope they are!)
  • GoldNRollGoldNRoll Posts: 134 Bronze ✭✭✭
    @RocketDog
    Well..the only positive (I would say normal) regulation is that there is no sales tax on bullion in Ohio:

    https://www.soundmoneydefense.org/gold-silver-laws-ohio
  • RocketDogRocketDog Posts: 619 Silver ✭✭✭✭
    @GoldnRoll -- Nice to have my state's regulatory lameness confirmed... I am not imagining things. The good thing is that I am only a couple of hours away from Goldmoney in Toronto. :-)
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