WA People
BILL · 2009–10 SESSION

SB 5395: Metals sale excise 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 is only taxed on amounts over and above market price.

From the Senate Bill Report (Orig.) (SB 5395), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 21, 2009
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Claudia Kauffman (D-47)
Introduced
January 21, 2009 in the Senate
Last action
March 15, 2010
Companion bill
HB 1297
Budget
Has a fiscal note

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

Sponsors

Prime sponsor: Claudia Kauffman (D-47)

4 co-sponsors (1 Democrat, 3 Republicans)

Mark Schoesler R-9Steve Hobbs D-44Joseph Zarelli R-18Pam Roach R-31

Votes

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

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. First reading, referred to Ways & Means.

SB 5395 in other sessions

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

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