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Oklahomans Applaud “Tax-Free Gold and Silver” Law

Oklahoma has joined Louisiana, Texas and Utah in the group of states that recognize gold and silver coins as legal tender, and the buzz in the Sooner State is that Gov. Mary Fallin has hit the proverbial nail on the head. The new law will not allow individuals to force merchants to accept gold and silver coins as payment for goods or services, but the new classification of U.S. gold and silver coins means that investors will no longer have to pay the 4.5% in-state sales tax that is charged to normal purchases, and state capital gains taxes will also be eliminated under this measure.

“This is very encouraging for the people of Oklahoma, and it makes sense because the U.S. Constitution has said for over 200 years what Governor Fallin just signed into actionable law,” said GoldSilver.org analyst Benjamin White. “The United States’ incessant printing of paper money is the exact opposite of what the Founding Fathers intended for our nation, so it’s nice to see a return to reality in Oklahoma. Investors and savers across the state will surely take advantage of these new tax breaks.”

Similar versions of Oklahoma’s “tax-free gold and silver” law have been passed in a handful of states already, and other states are currently considering measures that would eliminate taxes on gold and silver purchases while at the same time not forcing business owners to accept gold and silver as a means of settling debts. For a complete breakdown of the gold and silver laws in your state call GoldSilver.org today at 800-394-3337 and ask for your free copy of the 2014 Insider’s Guide to Gold & Silver Investing.

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