SLS 17RS-301 ORIGINAL
2017 Regular Session
SENATE BILL NO. 202
BY SENATOR GARY SMITH
TAX/SALES. Exempts sales and purchases of gold, silver, or numismatic coins, or
platinum, gold, or silver bullion from sales and use tax. (gov sig)
1 AN ACT
2 To enact R.S. 47:302(AA)(29) and 321.1(F)(66)(u), relative to state sales and use tax; to
3 provide with respect to the exclusion for sales of certain precious metals and coins;
4 to provide for effectiveness and applicability of the exclusion; and to provide for
5 related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 47:302(AA)(29) and 321.1(F)(66)(u) are hereby enacted to read as
8 follows:
9 §302. Imposition of tax
10 * * *
11 AA. Notwithstanding any other provision of this Section to the contrary,
12 beginning July 1, 2016, the following specific exclusions and exemptions shall be
13 applicable to the tax levied pursuant to the provisions of this Section:
14 * * *
15 (29) Beginning July 1, 2017, sales and purchases of gold, silver, or
16 numismatic coins, or platinum, gold, or silver bullion, as provided in R.S.
17 47:301(16)(b)(ii).
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 202
SLS 17RS-301 ORIGINAL
1 * * *
2 §321.1. Imposition of Tax
3 * * *
4 F. Notwithstanding any other provision of law to the contrary, including but
5 not limited to any contrary provision of this Chapter, there shall be no exemptions
6 or exclusions as defined in R.S. 47:301 to the tax levied pursuant to the provisions
7 of this Section, except for the sales or purchases of the following items:
8 * * *
9 (66) Beginning July 1, 2016, in addition to those exclusions and exemptions
10 provided for in Paragraphs (1) through (65) of this Subsection, the following
11 exclusions and exemptions shall be allowable for purposes of the tax levied pursuant
12 to the provisions of this Section:
13 (u) Beginning July 1, 2017, sales and purchases of gold, silver, or
14 numismatic coins, or platinum, gold, or silver bullion, as provided in R.S.
15 47:301(16)(b)(ii), and notwithstanding any provision of 47:301(16)(b)(ii) to the
16 contrary, this exclusion shall be applicable for the tax imposed under this
17 Section.
18 Section 2. This Act shall become effective upon signature by the governor or, if not
19 signed by the governor, upon expiration of the time for bills to become law without signature
20 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
21 vetoed by the governor and subsequently approved by the legislature, this Act shall become
22 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by James Benton.
DIGEST
SB 202 Original 2017 Regular Session Gary Smith
Present law provides exemptions and exclusions to taxes levied pursuant to present law
including taxes upon the sale at retail, the use, the consumption, the distribution, and the
storage for use or consumption in this state of each item or article of tangible personal
property as defined in present law.
Proposed law retains present law and adds the sales and purchases of gold, silver, or
numismatic coins, or platinum, gold or silver bullion to the list of exemptions and
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 202
SLS 17RS-301 ORIGINAL
exclusions.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 47:302(AA)(29) and 321.1(F)(66)(u))
Page 3 of 3
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.