The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Leonore Heavey.
DIGEST
SB 31 Engrossed 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 have a sales price of $1,000 or less or be
sold at a national, statewide, or multi-parish numismatic trade show in order to be excluded from the
definition of tangible personal property.
Present law partially suspends the state sales and use tax exclusion for purchases of gold, silver, or
numismatic coins, or platinum, gold, or silver bullion subjecting these purchases to state sales and
use tax at the rate of three percent until July 1, 2018.
Proposed law excludes purchases of gold, silver, or numismatic coins with a sales price of no more
than $1,000 or sold at a national, statewide, or multi-parish numismatic trade show, and platinum,
gold, or silver bullion from all state sales and use tax beginning October 1, 2017.
Effective July 1, 2017.
(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 Senate
Committee Amendments Proposed by Senate Committee on Revenue and Fiscal Affairs to
the original bill
1. Changes exclusion for numismatic coins to those coins with sales price of no more
than $1,000 or those coins sold at a national, statewide, or multi-parish numismatic
trade show.
2. Adds the numismatic coin and bullion exclusion to the list of fully applicable sales
tax exclusions and exemptions.