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 still considering similar measures in their own states this year.
Arkansas’s Senate Bill 336, originally introduced by Sen. Mark Johnson and Rep. Delia Haak, enjoyed tremendous popularity, passing through the state Senate 30-1 before passing out of the state House unanimously by a vote of 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, 2021.
Meanwhile, similar bills are still 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. That leaves 10 states and the District of Columbia as the primary jurisdictions that still harshly penalize citizens seeking to protect their savings against the serial devaluation of the Federal Reserve Note.- READ MORE
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