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Arkansas has ended all taxes on purchase, sale, or exchange of specie, including state capital gains taxes.
Specie is defined as "Coin having gold or silver content; or refined gold or silver bullion that is coined, stamped, or imprinted with its weight and purity; and valued primarily based on its metal content not its form."
Under HB 1718, the era of taxing gold and silver in Arkansas has come to an end. Arkansas became the 11h state also to end capital gains taxes as applied to the sale of gold and silver. The law makes “gold and silver specie” legal tender in the state, meaning it is recognized as a medium of exchange.
Arkansas passed SB 336 in 2021, creating an exemption from the sales and use tax for coins, currency, and bullion.
Arkansas has come a long way, gradually built from the ground up during the course of American history. Once a vast land of farms and plantations, it now combines the agriculture of old with the technology and advancements of modernity. It has one of the lowest incomes per capita, but it is often said to be one of the best Southern states in which to do business, and one that is constantly improving.
The capital of Arkansas, and the largest city in the state, is Little Rock.
Agriculture has always thrived here, with growing conditions perfect for crops like soybeans, cotton and rice. Arkansas has a lot of farmland and hardworking farmers, serving to boost the economy with everything from cattle and poultry to eggs and milk, most of which is exported.
Despite a low per capita income when compared to the rest of the nation, Arkansas does not have the highest unemployment rate…far from it. In 2014, it was named the most affordable state in the entire United States. This affordability and these low wages are perhaps why business flourishes here, as these are the foundations upon which companies like Walmart, headquartered in Bentonville, were built.
Note: GoldBroker cannot provide tax, legal, or other advice, so if you are not sure about the taxation to your personal circumstances, we recommend that you seek independent advice from a qualified professional.
All of these texts were accurate at the time of writing, but tax laws are constantly changing and it’s not easy to keep track of those changes. Because of this, we can not be held responsible for any false or out-of-date information.