Sunday, May 15, 2005

 

Noe tax loophole - who knew?

This adds a new wrinkle to the whole tax reform debate.

Toledo area State Representative Peter Ujvagi, quoted in a new Blade article on Coingate:
“We’re going to continue to pursue what we call the Noe amendment.”

Mr. Ujvagi said he was referring to a sale-tax exemption on the sale of gold bullion and rare coins that are considered “investment grade,” which are the most expensive. He said the state has lost $34 million in potential tax revenue since 1992 because of the exemption, according to the Department of Taxation.
There is well-connected, and there is well-connected. Noe took care of the GOP and he took care of him.

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