HLS 17RS-757 ENGROSSED
2017 Regular Session
HOUSE BILL NO. 396
BY REPRESENTATIVES DWIGHT AND ABRAHAM
TAX/SALES-USE, ST-EXEMPT: Provides for the effectiveness and applicability of the
state sales and use tax exclusion for sales of gold, silver, or numismatic coins, and
platinum, gold, or silver bullion
1 AN ACT
2To amend and reenact R.S. 47:301(16)(b)(ii) and R.S. 47:302(AA)(introductory paragraph)
3 and 321.1(F)(66)(introductory paragraph) and to enact R.S. 47:302(AA)(29) and
4 321.1(F)(66)(u), relative to state sales and use tax; to provide with respect to the
5 exclusion for sales of certain precious metals and coins; to provide for effectiveness
6 and applicability of the exclusion; and to provide for related matters.
7Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 47:301(16)(b)(ii) and R.S. 47:302(AA)(introductory paragraph) and
9321.1(F)(66)(introductory paragraph) are hereby amended and reenacted and R.S.
1047:302(AA)(29) and 321.1(F)(66)(u) are hereby enacted to read as follows:
11 §301. Definitions
12 As used in this Chapter the following words, terms, and phrases have the
13 meaning ascribed to them in this Section, unless the context clearly indicates a
14 different meaning:
15 * * *
16 (16)
17 * * *
18 (b) The term "tangible personal property" shall not include:
19 * * *
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HB NO. 396
1 (ii) Solely for purposes of sales and use taxes imposed by the state under R.S.
2 47:302, 321, and 331, gold, silver, or numismatic coins, or platinum,
3 (aa) Platinum, gold, or silver bullion, ingots, or coins.
4 (bb) Numismatic coins that have a sales price of no more than one thousand
5 dollars.
6 (cc) Numismatic coins sold at a national, statewide, or multi-parish
7 numismatic trade show.
8 * * *
9 §302. Imposition of tax
10 * * *
11 AA. Notwithstanding any other provision of this Section to the contrary,
12 beginning July 1, 2016, except as provided in Paragraph (29) of this Subsection, the
13 following specific exclusions and exemptions shall be applicable to the tax levied
14 pursuant to the provisions of this Section:
15 * * *
16 (29) Beginning October 1, 2017, the following exclusions shall apply:
17 (a) Sales and purchases of platinum, gold, or silver bullion, ingots, or coins
18 as provided in R.S. 47:301(16)(b)(ii)(aa).
19 (b) Numismatic coins that have a sales price of no more than one thousand
20 dollars as provided in R.S. 47:301(16)(b)(ii)(bb).
21 (c) Numismatic coins sold at a national, statewide, or multi-parish
22 numismatic trade show as provided in R.S. 47:301(16)(b)(ii)(cc)."
23 * * *
24 §321.1. Imposition of Tax
25 * * *
26 F. Notwithstanding any other provision of law to the contrary, including but
27 not limited to any contrary provision of this Chapter, there shall be no exemptions
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HB NO. 396
1 or exclusions as defined in R.S. 47:301 to the tax levied pursuant to the provisions
2 of this Section, except for the sales or purchases of the following items:
3 * * *
4 (66) Beginning July 1, 2016, except as provided in Subparagraph (u) of this
5 Paragraph, in addition to those exclusions and exemptions provided for in Paragraphs
6 (1) through (65) of this Subsection, the following exclusions and exemptions shall
7 be allowable for purposes of the tax levied pursuant to the provisions of this Section:
8 * * *
9 (u) Beginning October 1, 2017, the following exclusions shall apply:
10 (i) Sales and purchases of platinum, gold, and silver bullion, ingots, or coins
11 as provided in R.S. 47:301(16)(b)(ii)(aa).
12 (ii) Numismatic coins that have a sales price of no more than one thousand
13 dollars as provided in R.S. 47:301(16)(b)(ii)(bb).
14 (iii) Numismatic coins sold at a national, statewide, or multi-parish
15 numismatic trade show as provided in R.S. 47:301(16)(b)(ii)(cc).
16 Section 2. This Act shall become effective upon signature by the governor or, if not
17signed by the governor, upon expiration of the time for bills to become law without signature
18by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
19vetoed by the governor and subsequently approved by the legislature, this Act shall become
20effective on the day following such approval.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 396 Engrossed 2017 Regular Session Dwight
Abstract: Provides for effectiveness and applicability of the state sales and use tax
exclusions for numismatic coins made of platinum, gold, silver, or other materials,
and for platinum, gold, or silver bullion.
Present law imposes state sales and use taxes on the sale, use, lease, or rental of tangible
personal property pursuant to the following levies:
R.S. 47:302 - 2% tax
R.S. 47:321 - 1% tax
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HB NO. 396
R.S. 47:321.1 - 1% tax
R.S. 47:331 - 0.97% tax
R.S. 51:1286 - .03% tax (LA Tourism and Promotion District)
Present law provides for exemptions and exclusions to state sales and use taxes. Further,
present law provides for the applicability and effectiveness of certain exclusions and
exemptions from the taxes imposed under R.S. 47:302 and 321.1 for the time between July
1, 2016, and June 30, 2018.
Present law provides for an exclusion from state sales and use taxes imposed under R.S.
47:302, 321, and 331, for the purchase of gold, silver, or numismatic coins, or gold, silver,
or platinum bullion. This exclusion in present law is not in effect for the state sales and use
taxes imposed under R.S. 47:302 and 321.1.
Proposed law changes present law for the exclusion for the sale or purchase of platinum,
gold, or silver bullion to include platinum, gold, or silver bullion, ingots, and coins.
Proposed law changes present law for effectiveness and applicability of the exclusion for the
sale or purchase of gold, silver, or platinum bullion by providing that the exclusion is
effective and applicable against all state sales and use taxes beginning Oct. 1, 2017.
Proposed law changes present law for the exclusion for the sale or purchase of numismatic
coins by limiting the exclusion to coins that either have a sales price of $1,000 or less, or that
are sold at a national, statewide, or multi-parish numismatic trade show.
Proposed law further changes present law for the exclusion for the sale or purchase of
numismatic coins by making the exclusion effective and applicable against all state sales and
use taxes beginning Oct. 1, 2017.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 47:301(16)(b)(ii), 302(AA)(intro para), and 321.1(F)(66)(intro. para.); Adds
R.S. 47:302(AA)(29) and 321.1(F)(66)(u))
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Ways and Means to the
original bill:
1. Add a limitation on the exclusion for numismatic coins to those with a sales of
$1,000 or less, or that are sold at a trade show.
2. Change the exclusion for platinum, gold, and silver bullion to include silver
ingots and coins.
3. Change the effectiveness of proposed law for applicability for the exclusion for
coins from June 1, 2017, to Oct. 1, 2017.
4. Change the effectiveness of proposed law for applicability for the exclusion for
bullion from June 1, 2017, to Oct. 1, 2017.
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