Text: HSB00269 Text: HSB00271 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.45, Code 2003, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 64. a. The gross receipts from the sale
1 4 of coins, currency, or bullion.
1 5 b. For purposes of this subsection:
1 6 (1) "Bullion" means bars, ingots, or commemorative
1 7 medallions of gold, silver, platinum, palladium, or a
1 8 combination of these where the value of the metal depends on
1 9 its content and not the form.
1 10 (2) "Coins or currency" means a coin or currency made of
1 11 gold, silver, or other metal or paper which is or has been
1 12 used as legal tender.
1 13 In addition to the requirements of section 422.50, the
1 14 seller of coins, currency, or bullion shall keep records for
1 15 up to five years that identify the purchase of the coins,
1 16 currency, or bullion for which sales tax was not collected
1 17 under this subsection.
1 18 EXPLANATION
1 19 This bill exempts from sales and use taxes the purchase of
1 20 coins, currency, or bullion.
1 21 LSB 2952HC 80
1 22 mg/cl/14
Text: HSB00269 Text: HSB00271 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
© 2003 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Mar 11 02:30:18 CST 2003
URL: /DOCS/GA/80GA/Legislation/HSB/00200/HSB00270/030310.html
jhf