Kentucy State Senators: Please Restore the Sales Tax Exemption in HB 360
On behalf of both our Kentucky-based members and our national membership of dealers, collectors, and investors, the National Coin & Bullion Association (formerly the Industry Council for Tangible Assets), I am writing in support of HB 360, which includes eliminating the sales and use tax on currency and precious-metals bullion. It is our highest hope that Kentucky will join the 41 other states that have such exemptions.
With the session quickly running out of time, it is not too late to exempt the unfair, double taxation on currency and precious-metals bullion.
Please restore the sales tax exemption that was stripped from HB 360.
Removing this unfair tax will spur new tax dollars and advance the legislature's goal of eliminating the income tax: more employees, higher payroll taxes, new business investment, and most importantly, driving new tourism to Kentucky. Trade shows simply do not put Kentucky on their list of destinations for thousands of enthusiasts across the country.
There has never been a better time than now to help Kentuckians diversify their portfolios against domestic economic mismanagement and reckless foreign adversaries.
Thank you for taking the time to consider this request to restore the sales tax exemption that was stripped from HB 360.