AR SB389

Adds Section 26-52-452 to Arkansas Code to create a sales and use tax exemption for coins, currency, and bullion.

Defines "bullion" as bars, ingots, or coins made of gold, silver, platinum, or palladium that are used as a medium of exchange and sold based on intrinsic precious metal value rather than face value.

Defines "coin or currency" as coins or currency made of gold, silver, other metal, or paper used as a medium of exchange and sold based on intrinsic value rather than face value, excluding coins or currency incorporated into jewelry.

Exempts gross receipts and gross proceeds from the sale of coins, currency, and bullion from Arkansas's gross receipts tax and the Arkansas Compensating Use Tax Act of 1949.

Provision becomes effective on the first day of the calendar quarter following the act's enactment.