Friday, April 12, 2013

Arizona Legislature Approves Gold and Silver as Money

Arizona Legislature Approves Gold and Silver as Money 

Under the Arizona SB 1439 legislation, precious metals would be treated just like debt-based fiat dollars for taxation and regulation purposes. However, unlike fiat dollars, nobody would be forced to accept gold or silver currency. While the original Senate bill would have allowed citizens to pay state taxes in any form of money, including precious metals, the House added an amendment striking that provision in an effort to ease opposition from the state Department of Revenue.