You are here
Idaho House votes not to tax income from gold and silver sales
By Camie Yngelmo
KXLY-TV4, Spokane, Washington
Monday, February 12, 2018
The Idaho State House today overwhelming approved a bill that excludes gains or losses on the sale of precious metals, coins, and bullion from an Idaho taxpayer's taxable income.
State representatives voted 60-9 to pass House Bill 449, sending the measure introduced by House Majority Leader Mike Moyle and Senate Assistant Majority Leader Steve Vick to the Senate for a hearing in the Local Government and Taxation Committee.
... Dispatch continues below ...
Goldco Is America's No. 1 Gold IRA Provider
Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.
Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.
To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:
"Gold and silver are the only money mentioned in the U.S. Constitution and they should not be subject to tax,” said Stefan Gleason, president of Money Metals Exchange, an Idaho-based national precious metals dealer.
Under HB 449, all gains and losses upon the sale of physical precious metals that are reported on a taxpayer's federal income tax return would be removed from the calculation of the taxpayer's Idaho taxable income.
* * *
Join GATA here:
Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: