{"id":1043,"date":"2022-02-12T19:49:32","date_gmt":"2022-02-12T19:49:32","guid":{"rendered":"https:\/\/findbullionprices.com\/blog\/?p=1043"},"modified":"2025-02-11T13:02:54","modified_gmt":"2025-02-11T13:02:54","slug":"more-states-vote-to-remove-sales-tax-from-precious-metals","status":"publish","type":"post","link":"https:\/\/findbullionprices.com\/blog\/more-states-vote-to-remove-sales-tax-from-precious-metals\/","title":{"rendered":"More States Vote to Remove Sales Tax from Precious Metals"},"content":{"rendered":"\n

Last year, legislators in Ohio<\/a> and Arkansas<\/a> voted to end sales tax on precious metals. Reports from across the country show that more states are considering legislation to remove retail sales tax on investments<\/a> like gold and silver.<\/p>\n\n\n\n

According to Kitco, “This year, Kentucky, Mississippi, Hawaii, New Jersey, and Tennessee are all considering removing sales taxes on gold and silver purchases as well.”<\/p>\n\n\n\n

Which is good news for gold and silver stackers in those states.<\/p>\n\n\n\n

Sales tax on precious metals continues to be a contentious issue. State and local sales taxes are generally considered “consumption” taxes, like a VAT or IVA, typically levied on consumable goods.<\/p>\n\n\n\n

Various organizations are pushing for tax code reforms that would help end some of the confusion people have regarding precious metals as a store of value.<\/p>\n\n\n\n