The new law will relieve some of the tax burdens on investors, and will also eliminate one barrier to using gold and silver in everyday transactions
The post Now in Effect: Mississippi Law Takes First Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
Repealing sales taxes on precious metal bullion takes a step toward treating gold and silver as money instead of commodities. Taxes on precious metal bullion erect barriers to using gold and silver as money by raising transaction costs
The post Signed as Law: Mississippi Takes First Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
Practically speaking, eliminating taxes on the sale of gold and silver cracks open the door for people to begin using specie in regular business transactions. This marks an important small step toward currency competition.
The post Mississippi House and Senate Pass Bills to Take Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
This week, two bills that would make a sales tax exemption on the sale of gold and silver bullion and coins passed their respective House and Senate committees. Passage into law would relieve some of the tax burdens on investors, and would 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.
The post Mississippi House and Senate Committees Pass Bills to Take Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
A bill introduced in the Minnesota House would expand the sales tax exemption on gold and silver to include bullion coins. The passage of this bill would relieve some of the tax burdens on investors, and would also eliminate another barrier to using gold and silver in everyday transactions, a foundational step for people to undermine the Federal Reserve’s monopoly on money.
The post Minnesota Bill Would Expand Sales Tax Exemption on Gold and Silver; Take Another Step Toward Treating Them as Money first appeared on Tenth Amendment Center.
The legislation would exempt from sales tax the sales of platinum, gold, and silver bullion that are valued solely upon their precious metal content, whether in coin or ingot form. This also includes numismatic coins that have a value of $1,000 or less, and numismatic coins sold at a national, statewide, or multi-county numismatic trade show.
The post Mississippi Bill Would Take Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.