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West Virginia state legislator proposes eliminating all taxes on gold and silver
By JP Cortez
Money Metals News Service
Wednesday, January 30, 2019
CHARLESTON, West Virginia -- West Virginia legislator Delegate Pat McGeehan, R-1st District has introduced the West Virginia Sound Money Act, House Bill 2684, to eliminate all tax liability on gold and silver in the state.
Following the Wyoming Legal Tender Act, which passed in Wyoming overwhelmingly last year, the West Virginia Sound Money Act is a similar measure that will remove all taxation on gold and silver, including sales and use tax, property tax, individual income tax, and corporate income tax.
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Under current law West Virginia citizens are discouraged from insulating their savings against the devaluation of the dollar because they are penalized with taxation for doing so. House Bill 2684 removes the disincentives to using gold and silver for this purpose. ...
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