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WI SB33

WI SB33
A sales and use tax exemption for precious metal bullion. (FE)


summary

Introduced
02/03/2023
In Committee
02/05/2024
Crossed Over
Passed
Dead
04/15/2024

Introduced Session

2023-2024 Regular Session

Bill Summary

This bill creates a sales and use tax exemption for precious metal bullion. The bill defines “precious metal bullion” as coins, bars, rounds, or sheets that contain at least 35 percent gold, silver, copper, platinum, or palladium. Because this bill relates to an exemption from state or local taxes, it may be referred to the Joint Survey Committee on Tax Exemptions for a report to be printed as an appendix to the bill. For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.

AI Summary

This bill creates a sales and use tax exemption for precious metal bullion. Precious metal bullion is defined as coins, bars, rounds, or sheets that contain at least 35 percent gold, silver, copper, platinum, or palladium, and are marked with weight, purity, and content or minted by a government authority. The bill excludes other tangible personal property that contains precious metal bullion, such as jewelry, works of art, scrap metal, or electronics, from the exemption. Because the bill relates to a tax exemption, it may be referred to the Joint Survey Committee on Tax Exemptions for a report to be printed as an appendix to the bill.

Committee Categories

Education

Sponsors (23)

Last Action

Failed to pass pursuant to Senate Joint Resolution 1 (on 04/15/2024)

Bill Topics

Macroeconomics
  • ‐ Taxation, Tax Policy, and Tax Reform

bill text


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bill summary

Document Type Source Location Created
State Bill Page https://docs.legis.wisconsin.gov/2023/proposals/reg/sen/bill/sb33 02/03/2023
SB33 ROCP for Committee on Senate Organization https://docs.legis.wisconsin.gov/2023/related/records/senate/senate_organization/1787815.pdf 04/15/2024
Fiscal Note - SB33: Report of the Joint Survey Committee on Tax Exemptions https://docs.legis.wisconsin.gov/2023/related/fe/sb33/sb33_jscte.pdf 02/19/2024
SB33 ROCP for Committee on Universities and Revenue On 2/5/2024 https://docs.legis.wisconsin.gov/2023/related/records/senate/universities_and_revenue/1775769.pdf 02/14/2024
SB33 ROCP for Committee on Universities and Revenue On 2/5/2024 https://docs.legis.wisconsin.gov/2023/related/records/senate/universities_and_revenue/1775769.pdf 02/05/2024
Fiscal Note - SB33: Fiscal Estimate From DOR https://docs.legis.wisconsin.gov/2023/related/fe/sb33/sb33_dor.pdf 02/13/2023
BillText https://docs.legis.wisconsin.gov/document/proposaltext/2023/REG/SB33.pdf 02/03/2023
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