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Arkansas ends sales taxes on gold and silver; more states may follow
By JP Cortez
Money Metals News Service
Money Metals Exchange, Eagle, Idado
Monday, May 3, 2021
By signing sound money legislation today, Arkansas Gov. Asa Hutchinson has officially ended sales taxation on gold, silver, platinum, and palladium bullion and coins, thereby setting an example for legislators in New Jersey, Maine, Ohio, and Tennessee, who are considering similar measures in their own states.
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Arkansas' Senate Bill 336, introduced by state Sen. Mark Johnson and Rep. Delia Haak, enjoyed tremendous popularity, passing through the state Senate 30-1 before passing the state House unanimously, 93-0.
Backed by the Sound Money Defense League, Money Metals Exchange, and grassroots activists and coin dealers in Arkansas, Senate Bill 336 will allow Arkansas investors, savers, and small businesses to acquire precious metals without being slapped with sales and use taxes.
The Arkansas sales tax exemption takes effect on July 1.
Meanwhile, similar bills are pending in Ohio, Maine, Tennessee, and New Jersey as the national backlash against taxing constitutional money continues.
Including Arkansas, 40 U.S. states now fully or partially exempt gold and silver from sales taxes. ...
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