Legislation watch
2011 Senate Bill 583: Exempt bullion sale profits from capital gains tax
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- Introduced by Sen. Joe Hune (R) on August 24, 2011, to exempt capital gains realized on the sale of a gold bullion and coins from state income tax.
- Referred to the Senate Finance Committee on August 24, 2011.
Comments
1) Re: 2011 Senate Bill 583 (Exempt bullion sale profits from capital gains tax ) by gypsy on February 18, 2012This is an attempt to avoid State income tax on profits made from selling gold, and should be defeated. If pensions must be taxed by the state, why shouldn't profits from selling gold be. It's income.
This makes a great deal of sense. Gold is money and there should not be capital gains on money. This would go a long way to help curb inflation and overspending if it were also adopted by the federal government.
So, what happened to "Shared Sacrefice". If you make $$$ one way, you get your taxes raised, if you make it another way, you get an exemption. WTF !!!
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