MS SB2878

Amends Section 27-65-111 of Mississippi Code to add a new exemption (aaa) for sales of investment grade gold or silver bullion from the state sales tax.

Defines "bullion" as precious metals formed into uniform shapes and quantities such as ingots, bars or plates with uniform content and purity, suitable for bulk or wholesale transactions in precious metals.

Exemption applies to sales of tangible personal property in the form of investment grade gold or silver bullion only; does not apply to other forms or uses of these metals.

Takes effect July 1, 2023.

Does not affect any tax claims, assessments, or legal actions for taxes accrued before the effective date.