Kentucky to Remove Sales Tax for Gold and Silver

by Admin on October 14, 2016

Proposed law would encourage use of the metals as currency2438941120_801ea4934e_zPhoto by Mark Herpel

The state of Kentucky is proposing a bill that would remove sales tax for gold and silver reports Activist Post.

The bill, BR156  was prefiled by Senator John Schickel for 2017 on October 11th. Sales tax would be removed from gold, silver, platinum, palladium bars, ingots or commemorative medallions. The bill specifies an exemption period of 5 years.

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Removal of sales tax from gold and silver, means that Kentucky will be treating coins as money instead of a commodity according to Activist Post.

Read the original article here

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