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AL HB238

Bill

Official Source

Status

Introduced

2/16/2017

Primary Sponsor

Lynn Greer

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Origin

House of Representatives

Regular Session 2017

AI Summary

HB238 Summary

  • Exempts gross proceeds from the sale of gold, silver, and platinum bullion or coins from Alabama state sales and use tax.

  • Requires dealers to maintain proper documentation as specified by department rule or regulation to identify each exempt sale.

  • Amends Sections 40-23-4 and 40-23-62 of the Code of Alabama 1975 relating to sales and use tax exemptions.

  • Becomes effective September 1, 2017, following passage and approval by the Governor.

Legislative Description

Taxation, sales and use tax exemptions, exempt proceeds from sale of gold, silver, and platinum bullion and coins, Secs. 40-23-4, 40-23-62 am'd.

Sales and Use Tax

Last Action

Indefinitely Postponed

5/17/2017

Committee Referrals

Ways and Means Education2/16/2017

Full Bill Text

No bill text available