Important news for the sellers of gold and silver in Kentucky: the state Senate reinstated the sales tax exemption for sales of gold and silver, overturning the order issued by the state governor in the summer of 2024.
The new ruling enables taxpayers to apply for recovery of any sales tax collections that took place during the time the governor’s veto was in effect.
Further, this new House Bill will allow taxpayers to apply for the reimbursement of related attorney fees and legal costs.
This change comes as part of the Sound Money policy, which aims to reintroduce gold and silver as legal tender. In the majority of states, purchases of gold and silver are exempt from sales tax. Do you know if you have a sales tax liability where not exempt? Reach out to find out if you qualify for a complimentary nexus study.