House Bill 375 Summary

• Exempts sales of gold, silver, platinum, and palladium bullion from Mississippi sales tax by amending Section 27-65-111.

• Defines qualifying bullion as precious metals that have undergone refining, contain at least 90% gold, silver, platinum, or palladium (or a combination), and have value dependent on mass and purity rather than rarity or numismatic value.

• Excludes jewelry, works of art, and items with significant numismatic value from the bullion exemption.

• Allows bullion in the form of bars, ingots, or coins to qualify for the exemption if they meet the purity and value requirements.

• Takes effect July 1, 2021.