COLUMBUS, OH / ACCESSWIRE / July 6, 2021 / Last week Ohio officially ended it’s sales taxation of gold, silver, platinum, and palladium bullion and coins, enabling the Buckeye State to join Arkansas as the two states having canceled taxation of the monetary metals so far this year.
Backed by the Sound Money Defense League and Money Metals Exchange, House Bill 110 (the 2022-2023 budget bill) restores the right of Ohio investors, savers, and small businesses to acquire precious metals without being slapped with sales and use taxes.
The Ohio sales tax exemption goes into effect July 1, 2021.
Having eliminated sales taxes on the monetary metals, Ohio will rise from dead last in the Sound Money Index to 30th place among the 50 states.
Including Ohio, 41 U.S. states now fully or partially exempt gold and silver from state sales taxes. That leaves nine states -Vermont, New Jersey, Maine, Tennessee, Kentucky, Wisconsin, New Mexico, Mississippi, and Hawaii – and the District of Columbia as jurisdictions that still harshly penalize citizens acquiring the monetary metals to protect their savings against the serial devaluation of the Federal Reserve Note.
Of those remaining nine states, Hawaii, Maine, Mississippi, New Jersey, Tennessee, and Wisconsin have recently considered measures to remove the sales tax in their states.
About Money Metals Exchange
Money Metals Exchange is a national precious metals investment company and news service with more than 500,000 readers and 150,000 customers. It also includes Money Metals Depository and Money Metals Capital Group, a lending agency.
About Sound Money Defense League
The Sound Money Defense League, a non-partisan, national public policy group working to restore sound money at the state and federal level and publisher of the Sound Money Index.
SOURCE: Sound Money Defense League
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