Florida: Pay Taxes in Gold & Silver

Florida Gold Rush?

Florida is set to recognize  gold and silver as currency that can be used to pay taxes. 

Committee Substitute Bill 999 is making its way through the Florida legislature and, if passed would recognize gold and silver as legal tender. That means the shiny stuff could be used to pay taxes and, if a seller is willing, for common household items as well. 

The bill also creates the framework for depositories - facilities that hold the precious metals - and sets other rules related to what metals would be tax exempt. 

If it passes, the law could have a huge positive impact on the Florida economy. Both by linking it to a sound currency and by attracting foreign investments. 

As proposed the bill wouldn’t force anyone to accept metals and the final framework for oversight of depositories has not been completed. 

However, the future for gold and silver bugs is looking very bright in the Sunshine state. 

Would you use gold and silver to buy things in Florida?