TOPEKA, Kan. (March 9, 2018) – Yesterday, a Kansas House 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 House of Delegates Taxation Committee introduced House Bill 2421 (HB2421) last year and it carried over to the 2018 session. The legislation would exempt gold and silver bullion, along with other precious metals and some coins, from state sales and compensating use tax. The bill would add the following to the list of things exempt from such taxes.
All sales of gold, silver and numismatic coins; palladium, platinum, gold or silver bullion; and currency. 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. “Currency” means a coin or currency made of gold, silver or other metal or currency made of paper.”
The law proposed law would sunset in 2023 unless renewed by the legislature.
The House Taxation Committee passed HB2421 on Thursday.
Imagine if …
Read more at The Tenth Amendment Center
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