Easy question? Why is there no sales tax on silver or gold?

[UWDude]

I stacked up ten more ounces a couple of days ago, and was surprised to find Washington does not charge sales tax on silver or gold transactions. Any idea why?

 

[headhawg7]

I stacked up ten more ounces a couple of days ago, and was surprised to find Washington does not charge sales tax on silver or gold transactions. Any idea why?

Many states have tax exemption on bullion. Washington is one. Here is a link to some others

http://preciousmetals.wikia.com/wiki/Bullion_Sales_Tax

I wish arkansas was on that list

 

[rp4prez]

I wish Texas was on that list too.

 

[ctb619]

I wish California was on that list.

 

[ctiger2]

Don't worry. Silver and Gold will both be officially re-monetized and they'll be no more taxes.

 

[Seraphim]

We'll sir you are rather chipper - I hope you're right.

To the OP, any "gains" you make on the bullion however, is taxable. Even if the "gains" are directly proportional to inflation.

Don't worry. Silver and Gold will both be officially re-monetized and they'll be no more taxes.

 

[Krugerrand]

We'll sir you are rather chipper - I hope you're right.

To the OP, any "gains" you make on the bullion however, is taxable. Even if the "gains" are directly proportional to inflation.

Taxes on capital gains not adjusted to inflation stands as the 3rd most immoral tax according to the Krugerrand Most Evil tax rankings.

 

[Seraphim]

1) Income tax

2) Property tax

?? AMIRIGHT?

Taxes on capital gains not adjusted to inflation stands as the 3rd most immoral tax according to the Krugerrand Most Evil tax rankings.