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Connecticut ends state taxes on purchases of gold and silver

Section: Daily Dispatches

From the Sound Money Defense League, Eagle, Idaho
Monday, June 30, 2025

Today Connecticut Gov. Ned Lamont, a Democrat, signed into law House Bill 7287, which includes a provision removing the last remaining state tax on purchases of gold, silver, platinum, and palladium bullion.

The Connecticut General Assembly originally considered a standalone sound money bill, carried by lead sponsor state Sen. John Fonfara, D-Hartford. The bill received a successful hearing before eventually being amended and absorbed into the state's budget bill.

... Dispatch continues below ...


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Both Sen. Fonfara, a strong advocate for sound money and fiscal responsibility in Connecticut, and Erik Bartone, managing director for Cygnus Financial Group based in Glastonbury, Connecticut, delivered strong testimony in favor of this measure.

Connecticut had been one of only six states in the United States maintaining merely a partial sales tax exemption on purchases of precious metals. Connecticut's regressive practice of taxing only purchases under $1,000 singled out small-time savers for a tax penalty that larger gold and silver purchases do not face. ...

... For the remainder of the report:

https://www.moneymetals.com/news/2025/06/30/connecticut-ends-all-taxes-on-purchases-of-gold-and-silver-004160

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