Ron Paul

Ducey signs tax cut on gold coin sales

Gov. Doug Ducey's final action on 33 remaining bills included signing a proposal exempting the sale of U.S. gold coins from state capital gains taxes despite vetoing two previous versions of the measure.

Ducey signed House Bill 2014 by Rep. Mark Finchem, which marked the lawmaker's latest attempt to exempt gold coins from taxation. The Oro Valley Republican argues that taxing exchanges of "legal tender" like gold coins is a tax on money alone and is essentially a tax on inflation.

"As transmitted the bill provides for the tax-neutral treatment of a very limited class of collectibles, using narrowly defined language," the governor said in a written...