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.
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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