Legislators overcame a Governor veto to pass House Bill 8.

Kentucky Eliminates Bullion Sales Taxes

The law will exempt certain precious metal products from state sales taxes.

Starting August 1, precious metal products are tax-exempt in Kentucky.

Kentucky Passes HB8

Governor Andy Beshear exercised a line-item veto on House Bill 8.

Kentucky legislators deemed the veto illegal, officially introducing the bill into law.

Some pundits expect Beshear to sue the legislator to reinstate his line veto.

House Bill 8 Explained

The law exempts certain precious metal products from sales tax collection in Kentucky.

Any bullion product that is or has been a legal means of exchange will be tax exempt in Kentucky.

The bill excludes coins used in jewelry but includes all currency paper and coinage.

Kentucky - 45th State to Eliminate Bullion Sales Taxes

Precious metal sales tax exemptions are popular - and might actually increase state tax revenue.

House Bill 8 goes into effect on August 1st - a big win for gold and silver stackers in Kentucky.

Expect precious metal dealers to adjust their sales tax collection requirements in early August.