Bill > HB5131

This bill amends Michigan's income tax law to introduce a new tax deduction and reporting provision for investment coins and bullion, effective for tax years beginning on or after January 1, 2026. Specifically, the bill allows taxpayers to deduct the net capital gain from the sale or exchange of investment coins and bullion from their adjusted gross income, while also requiring taxpayers to add back any net capital losses from such sales or exchanges. The bill provides detailed definitions for "bullion" and "investment coins," including specific criteria such as metallic content, origin, and market value. The provision applies to numismatic coins and other forms of money manufactured from precious metals like gold, silver, platinum, or palladium, where the fair market value exceeds the face value of the coins. This change aims to provide tax treatment for transactions involving collectible or investment-grade coins and precious metal bullion, offering taxpayers a potential tax benefit for gains realized from these types of investments.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5131