MS HB508

Exempts sales of coins, currency, and bullion from Mississippi sales tax, effective July 1, 2023

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

Defines "coin or currency" as items made of gold, silver, other metal, or paper used as a medium of exchange, sold based on intrinsic or collectible value rather than representative value

Excludes coins or currency that have been incorporated into jewelry from the exemption

Preserves all existing tax claims, assessments, and enforcement actions for taxes due before the effective date