Louisiana Tax Regulations for Precious Metals
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Louisiana Sales Tax for Precious Metals

By Gainesville Coins
Published April 23, 2020

As defined in state code Act 340 of 2017, the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to a Louisiana address:

EXEMPT

  1. Refined gold, silver, or platinum bullion bars and coins sold according to its precious metal content and not form;

  2. Numismatic coin purchases up to $1,000;

  3. Numismatic coin purchases of any price, if bought at a national, statewide, or multi-parish trade shows

All other bullion or numismatic items and accessories sold by Gainesville Coins are subject to Louisiana state sales tax.

Our Direct Marketer Account ID is 2289632-001-440.

Louisiana Tax Code - Sales Tax Exemptions For Precious Metals

Act 340

AN ACT
To amend and reenact R.S. 47:301(16)(b)(ii) and 302(AA)(introductory paragraph) and to enact R.S. 47:302(AA)(29) and 321.1(F)(67), relative to state sales and use tax; to provide with respect to the exclusion for sales of certain precious metals and coins; to provide for effectiveness and applicability of the exclusion; and to provide for related matters.

Be it enacted by the Legislature of Louisiana:

Section 1. R.S. 47:301(16)(b)(ii) and 302(AA)(introductory paragraph) are hereby amended and reenacted and R.S. 47:302(AA)(29) and 321.1(F)(67) are hereby enacted to read as follows:

§301. DefinitionsAs used in this Chapter the following words, terms, and phrases have the meaning ascribed to them in this Section, unless the context clearly indicates a different meaning:

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(16)

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(b) The term "tangible personal property" shall not include:

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(aa) Platinum, gold, or silver bullion, that is valued solely upon its precious metal content, whether in coin or ingot form.
(bb) Numismatic coins that have a sales price of no more than one thousand dollars.
(cc) Numismatic coins sold at a national, statewide, or multi-parish numismatic trade show.

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§302. Imposition of tax

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AA. Notwithstanding any other provision of this Section to the contrary, except Paragraph (29) of this Subsection, beginning July 1, 2016, the following specific exclusions and exemptions shall be applicable to the tax levied pursuant to the provisions of this Section:

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(29) Beginning October 1, 2017

(a) Sales and purchases of platinum, gold, or silver bullion, that is valued solely upon its precious metal content, whether in coin or ingot form as provided in R.S. 47:301(16)(b)(ii)(aa).
(b) Numismatic coins that have a sales price of no more than one thousand dollars as provided in R.S. 47:301(16)(b)(ii)(bb).
(c) Numismatic coins sold at a national, statewide, or multi-parish numismatic trade show as provided in R.S. 47:301(16)(b)(ii)(cc).

§321.1. Imposition of Tax

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F. Notwithstanding any other provision of law to the contrary, including but not limited to any contrary provision of this Chapter, there shall be no exemptions or exclusions as defined in R.S. 47:301 to the tax levied pursuant to the provisions of this Section, except for the sales or purchases of the following items:

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(66) Beginning July 1, 2016, in addition to those exclusions and exemptions provided for in Paragraphs (1) through (65) of this Subsection, the following exclusions and exemptions shall be allowable for purposes of the tax levied pursuant to the provisions of this Section:

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(67) Beginning October 1, 2017:

(a) Sales of platinum, gold, and silver bullion, that is valued solely upon its precious metal content, whether in coin or ingot form as provided in R.S 47:301(16)(b)(ii)(aa).
(b) Numismatic coins that have a sales price of no more than one thousand dollars as provided in R.S. 47:301(16)(b)(ii)(bb).
(c) Numismatic coins sold at a national, statewide, or multi-parish numismatic trade show as provided in R.S. 47:301(16)(b)(ii)(cc)

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Section 2. This Act shall become effective upon signature by the governor or, if not signed by the governor, upon expiration of the time for bills to become law without signature by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If vetoed by the governor and subsequently approved by the legislature, this Act shall become effective on the day following such approval.

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