US states abolish taxes on gold and silver
Of the 50 US states, New Jersey now also waives precious metals taxes.
(PresseBox) - Sales tax on the purchase of gold, silver and other precious metals over 1,000 US dollars will no longer exist in New Jersey as of January 1, 2025 - along with 44 other states. This reaffirms gold and silver as a constitutional means of payment. And that s a good thing, because sales tax is for final consumer goods that are consumed. Precious metals, however, are not bought for consumption. Also, taxing precious metals only hurts the state because sales tax revenues are exceeded by businesses or economic activities that are pushed out of the state. Buyers of precious metals otherwise do business in neighboring states. Savers would also be treated inappropriately because they buy the precious metals as savings and investments to protect their wealth.
And there are also no taxes on the purchase of stocks, bonds, currencies or ETFs in New Jersey. What is not so nice is the 1,000 US dollar limit, which puts small savers at a disadvantage. According to a survey on how money is invested in Germany, the current account is in first place in 2024. Savings accounts and savings deposits are in second place. In the top ten most popular investments, shares are in sixth place. Around 61% of Germans own gold in the form of bars, coins, jewelry or a special security. In France, savings are similar to those in Germany. Less than four percent of French people s financial savings are held in gold. A little gold in physical form can do no harm. Although there is an equity risk when investing in gold mining shares, the profitability can be significantly higher compared to physical gold. So, let s take a look at royalty companies that provide investors with diversification.
Gold Royalty - https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ - is active in North and South America and expects to generate total revenues of USD 13 million to 14 million in 2024.
Osisko Gold Royalties - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/ - focuses on gold and copper. The extensive portfolio is focused on North America.
Current corporate information and press releases from Osisko Gold Royalties (- https://www.resource-capital.ch/en/companies/osisko-gold-royalties-ltd/ -) and Gold Royalty (- https://www.resource-capital.ch/en/companies/gold-royalty-corp/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
Unternehmensinformation / Kurzprofil:
Datum: 18.09.2024 - 04:08 Uhr
Sprache: Deutsch
News-ID 711645
Anzahl Zeichen: 0
contact information:
Contact person: Jörg Schulte
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Kategorie:
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