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Idaho House Bill 40 to end taxes on gold and silver

ByVictoria

Idaho yesterday formally ended state income taxes on gold and silver as part of its largest tax cut in state history.

House Bill 40, sponsored by House Speaker Mike Moyle and begrudgingly signed by the state’s liberal Republican governor Brad Little, provides a sweeping $253 million income tax cut for Idahoan taxpayers by lowering the rate from 5.695% to 5.3% while also adding two specific exemptions.

Moyle said today, “I’m proud to help secure another $253 million in income tax cuts for Idaho families. Meanwhile, it makes no sense for Idaho to tax gold and silver, the only money mentioned in the U.S. Constitution.”

Source – Money Metals

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    “Florida stands firmly for freedom, economic self-determination, and resistance to government overreach,” the governor said. “But for too long, outdated regulations and unnecessary sales taxes have made it impractical for Floridians to enter the gold and silver market.”

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    Macquarie Group Limited – is an Australian multinational independant investment bank and financial services company. Headquarters in Sydney, Australia. Listed as ASX

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