MS HB1661

Amends Mississippi Code Section 27-65-111 to add a new exemption (aaa) from sales tax for sales of coins, currency, and bullion effective July 1, 2023.

Defines "bullion" as bars, ingots, or coins made of gold, silver, platinum, or palladium that were or are used as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation, 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 that were or are used as a medium of exchange by any state, the United States Government, or a foreign nation, sold based on intrinsic value as precious metal or collectible rather than face value; excludes coins incorporated into jewelry.

Preserves all existing tax claims, assessments, appeals, and suits for taxes accrued before the effective date under current law.

Exemption is effective from July 1, 2023, and stands repealed on June 30, 2023 (note: this creates an immediate expiration upon enactment).