TOPEKA, Kan. (March 18, 2018) – Last week, a Kansas Senate committee passed a bill that would exempt gold and silver bullion, and other precious metals, from sales tax, encouraging their use and taking the first step toward breaking the Federal Reserve’s monopoly on money.
The Senate Assessment and Taxation Committee introduced Senate Bill 437 (SB437) on March 7. The legislation would exempt gold and silver bullion, along with other precious metals, from state sales and compensating use tax. The bill would add the following to the list of things exempt from such taxes.
Gold, and silver coins; and palladium, platinum, gold or silver bullion. For the purposes of this subsection, “bullion” means bars, ingots, or commemorative medallions of gold, silver, platinum, palladium, or a combination thereof, for which the value of the metal depends on its content and not the form.
Committee on Assessment and Taxation approved the measure with a do-pass recommendation on March 14.
A similar bill passed a Kansas House committee last week as well.
Imagine if you asked a grocery clerk to break a $5 bill and he charged you a 35 cent tax. Silly, right? After all, you were only exchanging …
Read more at The Tenth Amendment Center
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