(Frankfort, Kentucky) -- In a high-stakes showdown with Gov.
-- In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature today deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law. This action makes the Bluegrass State the 45th state in the nation to enact this sound money policy – and the second this year. Originally introduced by Rep.
Ending the sales tax on purchases of gold and silver is good policy for several reasons: Other types of savings or investments do not carry a sales tax.Gold and silver are held as forms of savings and investment. Kentucky already does not assess a sales tax on the purchase of stocks, bonds, ETFs, real estate, currencies, and other financial instruments. Levying sales taxes on precious metals makes no sense because they are held for resale.Sales taxes are typically levied on final consumer goods.
Silver Metals Unitedstates Commodities Silver
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