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Archive for October, 2013

Texas Votes to Abolish Taxation of Gold

May 23, 2013

Texas to Abolish Gold Taxation as APP Launches Related Website on States and Sound Money The Texas Senate on Wednesday night passed H.B. 78, a bill that eliminates the sales tax on precious metal coins and bullion. It now goes to Governor Rick Perry’s desk for his signature into law. Existing Texas statute applies the […]

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By Shane Vander Hart on May 22, 2013 | Economics

SB 248 is being discussed in the Louisiana Senate Committee on Revenue and Fiscal Affairs.  It simply provides for a sales and use tax exemption on purchases of gold and silver bullion coins.  This bill is sponsored by State Senator A.G. Crowe (R-Slidell).  This is the bill we have been involved in.  There may be a vote on this before the end of the day, we’ll keep you updated.

There is a similar House bill – HB 682 sponsored by State Representative Paul Hollis (R-Covington) that is being considered by the Louisiana House Ways and Means Committee.  This bill broadens the sales and use tax exclusion for gold, silver, or numismatic coins (collectables), or platinum, gold or silver bullion.

If both bills pass the differences will need to be worked out in conference committee.

Update: the House bill just passed out of committee unanimously.

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