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S.F. No. 190 - Sales Tax Exemption for Precious Metal Bullion (as proposed by the A-1 amendment)
Author: Senator Melisa Franzen
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
Date: March 2, 2015


Provides an upfront sales tax exemption for precious metal bullion.  Defines “precious metal bullion” as a product of at least 90 percent by weight of gold, silver, platinum, or palladium that is bought and sold based on the current market price of the actual metal as set by a recognized commodities exchange, and is in the form of coin, rounds, bars, or any other form that qualified under the previous two requirements.  Effective for sales and purchases made after June 30, 2015.

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