Bill
Bill > S721
NJ S721
NJ S721Exempts sales of investment metal bullion and certain investment coins from sales and use tax.
summary
Introduced
01/09/2024
01/09/2024
In Committee
06/24/2024
06/24/2024
Crossed Over
06/28/2024
06/28/2024
Passed
09/12/2024
09/12/2024
Dead
Signed/Enacted/Adopted
09/12/2024
09/12/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
An Act exempting the sale of certain investment metal bullion and coins from the sales and use tax and amending P.L.1980, c.105.
AI Summary
This bill exempts the sale of investment metal bullion and certain investment coins from the state's sales and use tax, which is a tax applied to the purchase of goods and services. Investment metal bullion is defined as precious metals like gold, silver, platinum, and palladium that have been refined and whose value is based on their metal content, not their form, and excludes items made for specific industrial, artistic, or aesthetic uses. Investment coins are defined as numismatic coins made of precious or non-precious metals with a fair market value of at least $1,000, excluding jewelry, works of art made from coins, and commemorative medallions. This exemption aims to reduce the tax burden on individuals investing in these specific forms of precious metals and coins.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (13)
Kevin Egan (D)*,
Lou Greenwald (D)*,
Paul Sarlo (D)*,
Douglas Steinhardt (R)*,
Lisa Swain (D)*,
Tony Bucco (R),
Chris DePhillips (R),
Aura Dunn (R),
Joe Pennacchio (R),
Alex Sauickie (R),
Brian Stack (D),
Chris Tully (D),
Andrew Zwicker (D),
Last Action
Approved P.L.2024, c.64. (on 09/12/2024)
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.njleg.state.nj.us/bill-search/2024/S721 |
| BillText | https://pub.njleg.gov/Bills/2026/S1000/721_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/PL24/65_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/AL24/64_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S1000/721_R2.HTM |
| Analysis - Statement AAP 6/24/24 1R | https://pub.njleg.gov/Bills/2024/S1000/721_S3.PDF |
| Analysis - Statement ACE 6/3/24 1R | https://pub.njleg.gov/Bills/2024/S1000/721_S2.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S1000/721_R1.HTM |
| Analysis - Statement SBA 3/11/24 | https://pub.njleg.gov/Bills/2024/S1000/721_S1.PDF |
| Fiscal Note - Fiscal Estimate 3/1/24; as introduced | https://pub.njleg.gov/Bills/2024/S1000/721_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/S1000/721_I1.HTM |
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