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The state-based movement in support of sound money has spread quickly as Louisiana becomes the second state to eliminate taxes on gold. The Louisiana Senate passed by a vote of 25-10 H.B. 682, a bill which removes the sales tax on gold and silver currency and bullion.
Existing law only exempts taxation for purchases of $1,000 and over.
This gives lower and middle income citizens the ability to acquire hard money without a regressive sales tax burden.
By removing taxes, it implicitly recognizes gold and silver coins as money.