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OK SB862
Bill
Status
2/4/2013
Primary Sponsor
Clark Jolley
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AI Summary
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Establishes gold and silver coins issued by the U.S. government as legal tender in Oklahoma and prohibits compulsory acceptance except as agreed by contract.
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Removes depository facility storage requirement from sales tax exemption for gold, silver, platinum, palladium, and other bullion items.
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Creates new income tax exemption for net capital gains resulting from the sale or exchange of gold or silver for another form of legal tender, effective for tax years beginning January 1, 2014.
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Effective date: November 1, 2013.
Legislative Description
Gold and silver coins; providing for status as legal tender; expanding exemption from sales tax; exempting from certain income tax. Effective date.
Revenue and Taxation
Last Action
Referred to Finance
2/12/2013