Bill > HB2336

This bill extends the existing sales and use tax exemption for gold, silver, and platinum bullion, as well as legal tender coins, from its current expiration date of June 30, 2025, to June 30, 2032. The exemption applies to precious metals that have been refined and whose value is determined by their mass and purity, rather than their form or collectible value. Specifically, the bill defines "gold, silver, or platinum bullion" as precious metals that have been processed and can contain minimal amounts of other substances, but excludes jewelry and works of art. "Legal tender coins" are defined as coins issued by a government for exchange or debt payment. This extension means that purchases of qualifying bullion and coins will continue to be exempt from retail sales and use taxation in Virginia for an additional seven years, providing ongoing tax relief for investors and collectors of these precious metal assets.

Budget and Finance

https://lis.virginia.gov/bill-details/20251/HB2336