Published on Sep 18, 2018
Imagine walking into a bank and trying to exchange two $10 bills for a $20 bill.
The teller takes your money and returns $19 in bills along with a few pennies, while noting the puzzled look on your face.
“Sorry…taxes, you know.”
You’d be outraged. What could be more ridiculous than being charged tax for exchanging US legal tender for US legal tender? Yet this is the day-in, day-out reality of purchasing US-Mint-issued gold and silver coinage with US-Fed-issued dollars.
Join Mike Maloney as he explores exciting new legislation that is set to challenge this senseless and archaic penalty on real money.
If you enjoyed watching this video, be sure to pick up a free copy of Mike's bestselling book, Guide to Investing in Gold & Silver: https://goldsilver.com/buy-online/inv...
Silver Gold Sales Tax by US States | ICTA, Jimmy Hayes SilverDoctors
Published on Mar 15, 2019
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Podcast - http://www.SilverDoctors.com/precious... In 2019, if you are a retail bullion dealer or conduit for any online bullion sales of any sort, you’d better be collecting applicable state sales taxes now or save a war chest perhaps risking the moment some state representatives come knocking at your door asking for their cut of their state's sales revenue.
Of course, this adds not just complexity but costs for anyone seeking to comply and not break any of the seemingly exponentially growing laws of the land.
Moving onwards to our guest this week.
His name is Mr. Jimmy Hayes, he recently became the Executive Director of the Industry Council for Tangible Assets.
Often known by its abbreviation IC-TA, the Industry Council for Tangible Assets (ICTA) is a 501(c)(6) nonprofit association dedicated to the rare coins, paper money, and precious metals industry now for over 30 years.
ICTA exists to promote and safeguard the interests of its members, serving as the industry watchdog to maintain an appropriate and favorable legislative and regulatory climate in the U.S.A. and all 50 states. The association provides a medium through which its members may confer, consult, cooperate with, and educate government and its agencies to achieve solutions to problems affecting their businesses.
The following discussion is between myself and Jimmy Hayes the current Executive Director of ICTA. As you will be able to tell quite quickly, Mr. Hayes is an experienced and sharp long time practicing financial lawyer, a former 10 year US Congressman, and co-author of the current Louisiana banking code.
Jimmy was gracious in taking time to give us his thoughts on this state tax law matter, and so here is our discussion from yesterday.