New/Updated Texas Exemptions

Minimum Purchase Threshold Removed:  Effective Oct. 1, 2013, there will be no minimum purchase threshold requirement for exemption on the sale of gold, silver or numismatic coins or of platinum, gold or silver bullion thanks to House Bill 78.  Before, only sales of $1,000 or more to a purchaser in a single transaction qualified for exemption.

Food Sales Exemption for School Booster Club:  Effective September 1, 2013, good products, meals, soft drinks and candy are exempt from sales tax if served by their group during a regular school pay.  This also includes sales during a school-sponsored or sanctioned event at a concession stand operated by their group if proceeds benefit the school or school district.

If you have questions regarding this article contact us at www.davisanddavisllc.com.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.