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IPFS News Link • Gold and Silver
Kentucky Governor Plans to Continue Collecting Sales Tax on Gold and Silver Despite New Law
• Activist PostKentucky Governor Andy Beshear has decided he's going to continue collecting sales tax on the sale of gold and silver despite a new law repealing the levy and an attorney general opinion calling his line-item veto of the provision unconstitutional.
Only five other states levy a sales tax on gold and silver.
Initially, Rep. Steven Doan and Rep. John Hodgson introduced a standalone bill to repeal the sales and use tax on gold and silver bullion. The provisions were later inserted into House Bill 8 (HB8), an omnibus revenue and tax bill.