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Arizona lawmakers propose Swedish rounding system to address penny shortage
Key Points: US Mint stopped producing pennies due to economic reasons Stores run out of pennies, leading to exact change issues Merchants must post a notice about cash rounding at […]
Lawmakers: All that glitters shouldn’t be taxed
Arizona law says if someone invests in something, whether art, collectible cars or commercial real estate, and then sells it for more than the cost, that difference is subject to state income taxes. What HB2014 seeks to do is carve out an exception when people invest in gold and silver coins produced by the U.S. Mint.
Arizona legislators desire tax carve out for all that glitters
Arguing that federal policies have made paper money “virtually worthless,” Arizona lawmakers are moving to allow residents to invest in gold coins and not have to pay state taxes on any profits they make when they sell them.
