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Buying Gold & Silver in Louisiana

The devastation fell by the citizens of New Orleans can never be comprehended unless you were unfortunate to live through it. The number of hurricanes that wallop the costal states in the Gulf of Mexico is amazing to behold, and can be troublesome for some to come to grips with, but for those who live in those areas, like Louisiana, it is a way of life. Louisiana is a mix of cultural, ethnic, and social backgrounds. It derives influences from the English, the French, the Caribbean, as well as a number of other regions around the world. They all come together to form a unique part of the fabric that makes up America. After the tragic effects of Hurricane Katrina, the city of New Orleans, and the rest of the state, began to crawl back from the brink of disaster and reinvent themselves, rebuild the destroyed neighborhoods, and improve the overall quality of life for their citizens. Louisiana is deep in the heart of the south, and represents a mixture of American, European, African, and Caribbean lifestyles which all shine through when you interact with the residents of the state.

Just like the rest of the county, when faced with adversity, the residents step up and take control, asserting their will and making things better for everyone. However, they also learned some lessons. The infrastructure was weakened, their faith in the government was damaged, and their confidence that the system worked was badly destroyed. They doubted the ability of the governmental structure to support all of their needs. In addition, they watched as the housing crisis exploded, the debt increased, and the economy worsened. They approached the spending of their money with caution, looking for safe ways to maximize the potential of their hard earned money. They needed to explore avenues to invest in a safe and sound manner, one that would provide a secure financial future for their families. In Louisiana, they were looking for options.

Bullion Sales Tax in Louisiana

The idea of purchasing real estate was no longer viable, the stock market was unpredictable, and really only a sure fire winner for rich people and brokers, and leaving your money in a financial institution no longer seems the wisest course of action. Recently, the state acted in a way that suggests an alternative plan for investment. Before July 2013, if you purchased bullion, coins, or currency in gold or silver, or any other precious metal, you had to pay a sales tax of a minimum of 4%, and sometimes as high as 11%, on all transactions under $1,000 dollars. This meant any small purchase for a hundred dollars was subject to a sales tax. In July 2013, this all changed. Louisiana passed a law exempting all future transactions starting August 1, 2013 of bullion, coins, currency comprised of gold and silver. This means for whatever purpose you purchase gold, in whatever amount, and in whatever size or shape, you will not be subject to any additional taxes. This is a great way to encourage continued investment in your local economy.

Golden Eagle Coins, being an out of state retailer, does NOT have to charge sales tax to Louisiana residents. Browse our selection of tax-free gold and silver products. Please take note that we are not experts on tax issues, and you may be liable to pay local Use tax. Please contact your local tax professional for more information.