Virginia State Senate Votes Unanimously to Keep Gold and Silver Tax Free

(Richmond, Virginia – January 31, 2022) – Members of the Virginia State Senate have voted UNANIMOUSLY to maintain gold and silver purchases tax free within the Commonwealth.

Final week, Senate Invoice 26, sponsored by Sen. Ruff (and companion invoice to HB 3), reported out of the Senate Finance and Appropriations Committee with a 14-1 vote. 

Earlier immediately, the sebate voted to maintain the present gross sales tax exemption in place by extending the sundown date till 2027.

After passage within the Senate, Senate Invoice 36 will now be transmitted to the Home of Delegates.

Along with these measures, Home Invoice 936, sponsored by Del. Batten, wouldn’t solely prolong the sundown provision, it could additionally eradicate the arbitrary $1,000 threshold that at present exists within the gross sales tax exemption. This coverage is discriminatory and regressive, as most treasured metals traders are shopping for in small increments as a technique to protect their wealth.

Yesterday, HB 936 handed unanimously out of Subcommittee #2 with a vote of 9-0.

The Sound Cash Protection League and Cash Metals Alternate have been in shut communication with legislators in Virginia to assist sound cash efforts.

For extra info on SB 26, click on right here.


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