- New Jersey legislature passes bill to end sales taxes on gold and silver
- Bill awaits action by Gov. Phil Murphy
- Bill received bipartisan support and passed with unanimous votes in both the Assembly and Senate
- The measure would apply to retail sales made on or after the fourth month following enactment
- Supporters of the bill include the Sound Money Defense League, Money Metals Exchange, and in-state dealers and investors
- Taxing precious metals is seen as inappropriate and inefficient
- Other states, including New Jersey’s neighbors, have already eliminated sales taxes on gold and silver
- Taxing precious metals harms in-state businesses and drives business to neighboring states
- Taxing precious metals is unfair to certain savers and investors
- Eliminating sales taxes on gold and silver is seen as good public policy
Source: soundmoneydefense.org
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
