summary
Introduced
02/11/2021
02/11/2021
In Committee
02/11/2021
02/11/2021
Crossed Over
Passed
Dead
05/23/2022
05/23/2022
Introduced Session
92nd Legislature 2021-2022
Bill Summary
A bill for an act relating to taxation; sales and use; repealing the exemption on the sale of precious metal bullion; repealing Minnesota Statutes 2020, section 297A.67, subdivision 34.
AI Summary
This bill repeals the sales and use tax exemption on the sale of precious metal bullion in Minnesota. Precious metal bullion refers to bars or rounds that consist of 99.9% or more by weight of gold, silver, platinum, or palladium and are marked with weight, purity, and content. The intent of the repeal is to eliminate the difference in tax treatment between the sale of precious metal bullion and other investment instruments like stocks, bonds, and bullion ETFs.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to Taxes (on 02/11/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0962&ssn=0&y=2021 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF962&version=0&session=ls92&session_year=2021&session_number=0&format=pdf |
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