New Sales Tax Exemptions on Bullion and Precious Metal Coins
Louisiana– Effective October 1, 2017, sales and use tax is 100% excluded from the sale of silver, gold and platinum bullion. Similarly, numismatic coins priced less than $1000, sold at national, statewide, or multi-parish trade shows will now receive full exclusions.
“We are very pleased that the Louisiana (sales tax) exemption is now restored,” said Industry Council for Tangible Assets executive director Kathy McFadden.
“Louisiana coin businesses owe Representative Stephen Dwight, Senator Jean-Paul Morrell, Representative Mark Abraham, Representative Larry Bagley and Senator Gary Smith a debt of gratitude for their leadership pushing the bill through the legislature,” said Louisiana Professional Coin Dealers president Louis Pizzolatto. We’re also grateful to the legislature for exempting all coin shows in our state and for exempting numismatic coins valued under $1,000 sold in our stores. Louisiana is now eligible to host a large national coin show such as the American Numismatic Association World’s Fair of Money (ANA) World’s Fair of Money.”
About Davis & Davis LLC – Sales Tax Experts: Headquartered in Dallas, Texas, Davis & Davis LLC – Sales Tax Experts specializes in sales/use tax refund recovery and audit defense. Our team of consultants is comprised of former Big 4 sales tax consultants and state sales tax auditors. Each of our consultants has 15 to 20 years of experience, providing our clients with access to a highly specialized team of sales/use tax professionals. At Davis & Davis, we are committed to maintaining the highest standards in our talent pool. We work hard to meet our clients’ needs by ensuring that you view our firm as an extension of your company and a member of your team.
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