Bill > HB1965

This bill repeals RCW 82.04.062, which previously provided tax preferences for precious metal bullion and monetized bullion. The bill eliminates the existing statute that governed how sales of these types of bullion were taxed, effectively removing the special tax treatment they previously enjoyed. The repeal does not retroactively impact any existing rights, liabilities, obligations, or ongoing legal proceedings related to the previous law. Any actions or transactions that occurred under the old statute will remain valid. The bill is set to take effect on October 1, 2025, giving businesses and tax authorities time to prepare for the change in tax treatment for precious metal and monetized bullion sales. By repealing this specific section of law, the bill suggests a potential change in how these types of bullion will be taxed in Washington state, though the specific new tax implications are not detailed in this bill text.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=1965&Year=2025&Initiative=false