After the legislature overrode Gov. Andy Beshear’s line-item veto, a measure exempting the sale of precious metal bullion from the state sales tax became law. The new law will relieve some of the tax burdens on investors, and it will also eliminate one barrier to using gold and silver in everyday transactions, a foundational step for people to undermine the Federal Reserve’s monopoly on money.
A House committee added provisions exempting bullion from the sales tax were inserted into House Bill 8 ( HB8 ), an extensive revenue and tax bill. Under the law, the sale of currency and bullion are exempt from the state sales and use tax.
The bill defines “bullion” as “bars, ingots, or coins, which are made of gold, silver, platinum, palladium, or a combination of these metals, valued based on the content of the metal and not its form […]
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Author: Tenth Amendment Center
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