SLS 17RS-200 ORIGINAL
2017 Regular Session
SENATE BILL NO. 31
BY SENATOR MORRELL
TAX/SALES. Includes certain numismatic coins in the definition of tangible personal
property subject to sales and use tax. (7/1/17)
1 AN ACT
2 To amend and reenact R.S. 47:301(16)(b)(ii), relative to sales tax; to define certain
3 numismatic coins as tangible personal property; to provide for an effective date; and
4 to provide for related matters.
5 Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 47:301(16)(b)(ii) is hereby amended and reenacted to read as
7 follows:
8 ยง301. Definitions
9 As used in this Chapter the following words, terms, and phrases have the
10 meaning ascribed to them in this Section, unless the context clearly indicates a
11 different meaning:
12 * * *
13 (16)(a) * * *
14 (b) The term "tangible personal property" shall not include:
15 * * *
16 (ii) Gold, silver, or numismatic coins that are valued solely upon their
17 precious metal content, or platinum, gold, or silver bullion.
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 31
SLS 17RS-200 ORIGINAL
1 * * *
2 Section 2. This Act shall become effective on July 1, 2017.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 31 Original 2017 Regular Session Morrell
Present law defines tangible personal property for purposes of taxation and provides that
tangible personal property does not include gold, silver, or numismatic coins, or platinum,
gold, or silver bullion.
Proposed law retains present law but requires that coins be valued only based on their
precious metal content in order to be excluded from the definition of tangible personal
property.
Effective July 1, 2017.
(Amends R.S. 47:301(16)(b)(ii))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.