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casamurphy
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Gold and Silver Bullion Now Treated As Money In Arizona - Mark O'Byrne - gold.ie

Since this only eliminates State income tax on gains from PM holdings, I can't see where this will have much influence on the public's use of PM as money. Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming already didn't have this tax already and is there any evidence that those states for that reason have much higher levels of PM holding compared to other states? Across the nation everyone still has to file IRS Form 8949 to report Federal taxable gains when using PM holdings as money if the value of the items purchased exceeds the cost basis (original purchase price) of the PM used as money.

Commented 2536 days ago

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Beginning of the headline :by Ron Paul Liberty Report staff Undermining the Federal Reserve received a major boost yesterday. Arizona Governor Doug Ducey signed into law a bill that eliminates capital gains taxes on gold and silver, thus allowing Arizona residents to use precious metals as currency instead of Federal Reserve notes. Currency competition against the monopolist Fed is starting to unfold. Let’s hope that other states follow in Arizona’s heroic footsteps. There’s no reason to wait for another severe financial... Read More

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