Indiana Bullion, Precious Metal and Rare Coin Sales Tax Exemption Laws and Legislation

By Industry Council for Tangible Assets….
 

Indiana Governor Mike Pence (R)

On March 24, Indiana governor Mike Pence (R) signed into law HB 1046 (source: PDF), which provides for a sales-tax exemption on rare coins, paper money, and precious-metals bullion. The new law will take effect on July 1. Indiana becomes the 33rd state to have a complete or partial sales-tax exemption on the retail sales of rare coins, paper money, and precious-metals bullion.

The bill was authored by Representative Greg Beumer; co-authored by state representatives David Wolkins (R-IN18), Robert Heaton (R-IN46), and David Niezgodski (D-IN7); and sponsored by state senators Brandt Hershman (R), Dennis Kruse (R), Jeff Raatz (R), Earline Rogers (D), Lonnie Randolph (D), and Scott Schneider (R).

David Hendrickson (Silver Towne), a dealer in Winchester, Indiana, financed and spearheaded the two-year campaign along with lobbyist Mike McDaniel, ICTA treasurer [and CoinWeek contributor] Pat Heller, and ICTA staff.

“The Indiana dealer and collector communities owe Mr. Hendrickson a debt of gratitude for his generosity,” said ICTA executive director Kathy McFadden.

“Indiana now joins the 32 other states with a sales-tax exemption. I wish to thank everyone that helped make this exemption a reality. I could not be happier with the outcome,” said Hendrickson.

About ICTA

ICTA is a 501(c)(6) non-profit association that represents the rare-coin, currency, and precious-metals communities. ICTA is supported solely by dues and donations. To join and/or learn more about ICTA, please visit our website — ictaonline.org.

CONTACT: DAVID CRENSHAW
(678) 430-3252
DAVID.CRENSHAW@ICTAONLINE.ORG

 

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