BILL · 2007–08 SESSION

SB 6266: Bullion and metal tax

Concerning the excise taxation of bullion and rare earth metals.

Summary

  • The B&O tax does not apply to the melting and reforming of precious metal bullion. The sale of precious metal bullion and monetized bullion is presumed to be for investment purposes, so the sale of such is only taxed on amounts over and above market price.

From the Senate Bill Report (SB 6266), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 14, 2008
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Tracey Eide (D-30)
Introduced
January 14, 2008 in the Senate
Last action
January 14, 2008
Budget
Has a fiscal note

AN ACT Relating to the excise taxation of the sale of metals for investment purposes;

Sponsors

Prime sponsor: Tracey Eide (D-30)

5 co-sponsors (1 Democrat, 4 Republicans)

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. First reading, referred to Ways & Means.
  2. Prefiled for introduction.

SB 6266 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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