Arkansas to remove sales tax from gold and silver, could more states follow?

coinpalice

Arkansas just passed a bill to remove sales tax from gold and silver as they look into the metals to use as a form of money, more states could follow. the new bill will take effect October 1st.
https://www.kitco.com/news/2021-05-04/Arkansas-removes-sales-tax-from-gold-and-silver-more-U-S-states-to-follow.html

TurtleCat

I’d love it if TN would follow suit — and remove sales tax on coin purchases.

coinpalice

that could happen as more states are looking into using gold and silver as a form of payment, i can't give a exact timeline, but i think more states will follow sometime this year

TwoSides2aCoin

I think this makes the 33rd state which has dropped sales tax on silver/gold/bullion/currency. We're getting there.

ricko

In NYS, there are specific parameters defined as to when sales tax will - or will not - be levied on gold and silver coins. It all has to do with final price and relation to PM content. Cheers, RickO

MetroD

@ricko said:
In NYS, there are specific parameters defined as to when sales tax will - or will not - be levied on gold and silver coins. It all has to do with final price and relation to PM content. Cheers, RickO

Sales tax rules by state ....

ricko

@MetroD... Good link, that is where I get my information when checking sales tax requirements. Cheers, RickO

WAYNEAS

@MetroD said:

Sales tax rules by state ....

Thanks for the link.
Wayne