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New Jersey legislature again votes unanimously to end taxes on gold and silver
By Jp Cortez
Money Metals News Service, Eagle, Idaho
Monday, July 1, 2024
For the second time in less than a year, the New Jersey legislature has voted to end the sales tax on purchases of gold and silver coins, bars, and rounds without a single dissenting vote.
A2812 and S721, carried by Sens. Steinhardt and Sarlo and Asms. Greenwald, Swain, and Egan, enjoyed overwhelming support, passing the Senate by a vote of 40-0 and the Assembly with a 71-0 vote.
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Last year's bills, A5294 and S1825, had passed out of both committees and both chambers of the New Jersey legislature without a single no vote. This popular bill had more than a dozen cosponsors and had unanimous approval in each legislative chamber.
Despite this, Gov. Phil Murphy chose not to enact the bill into law.
Kentucky, Wisconsin, Alabama, Tennessee, Virginia, Mississippi, and Ohio have all recently enacted legislation to exempt gold and silver from state sales tax, or extend their existing exemption on the metals. In total, 45 states have ended sales tax on gold and silver -- including all three of New Jersey's neighboring states. ...
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