Bill > SF403

This bill expands the existing sales tax exemption for precious metal bullion in Minnesota to include coins and other forms of currency, providing a broader tax break for investors and collectors. The bill defines "bullion" as bars, ingots, or commemorative medallions of precious metals like gold, silver, platinum, palladium, and rhodium, where the value is based on metal content, and "coins and currency" as legal tender made of metal or paper. The exemption specifically does not apply to jewelry, works of art, or scrap metal. The legislative intent is to create consistent tax treatment between precious metal bullion sales and other investment instruments like stocks and bonds. The bill aims to standardize how various forms of monetary and investment metals are taxed, potentially making such investments more attractive by removing sales tax barriers. The changes will become effective for sales and purchases made after June 30, 2025, giving businesses and investors time to prepare for the new tax policy.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0403&ssn=0&y=2025