After Utah, Wisconsin, Nebraska, and Kentucky, Alabama became the fifth state to have passed legislation supporting sound money by abolishing income taxes on gold and silver.
Today, Alabama took a significant step toward promoting sound money concepts when Governor Kay Ivey signed a law eliminating all income taxes on capital gains from the sale of gold and silver.
With this action, Alabama becomes one of the increasing number of states that place a high priority on shielding their residents from the damaging effects of rising national debt, depreciating currency, and inflation.
Following the enactment of Senate Bill 297, Alabama will become the thirteenth state in the union to waive capital gains taxes on sales of gold and silver.
According to the new law, an Alabama taxpayer's adjusted gross income (AGI) will not include any gains or losses from the sale of precious metals as reported on federal tax returns. This act essentially protects people from harsh taxes on tr...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
