N.J. Governor Vetoes Bill to Exempt Silver, Gold From Sales Tax

New Jersey Gov. Phil Murphy (D) pocket-vetoed a bill that would have exempted the sale of investment silver, gold, and other metals from taxation.

• The bill, A5294, would have provided an exemption from the sales and use tax for the sale of investment metal bullion and investment coins. The move would have cost the state between $4.8 million and $7 million annually, according the legislation’s fiscal statement.
• The state Assembly and Senate were unanimous in passing the legislation, following other states making similar moves in recent years, including Arkansas and Ohio.
• A pocket veto only ...