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Indiana Governor Signs Sales-Tax Exemption Bill for Coins and Paper Money

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1804-silver-dollar

The Industry Council for Tangible Assets has shared the following press release:

ANNAPOLIS, MD — On March 24, Indiana governor Mike Pence signed into law HB 1046, which provides for a sales-tax exemption on rare coins, paper money, and precious-metals bullion. The new law will take effect on July 1. Indiana becomes the 33rd state to have a complete or partial sales-tax exemption on the retail sales of rare coins, paper money, and precious-metals bullion.

The bill was authored by Representative Greg Beumer; co-authored by Rep. David Wolkins, Rep. Robert Heaton, and Rep. David Niezgodski; and sponsored by Sen. Brandt Hershman, Sen. Dennis Kruse, Sen. Jeff Raatz, Sen. Earline Rogers, Sen. Lonnie Randolph, and Sen. Scott Schneider.

David Hendrickson (Silver Towne), a dealer in Winchester, Indiana, financed and spearheaded the two-year campaign along with lobbyist Mike McDaniel, ICTA treasurer Pat Heller, and ICTA staff.

“The Indiana dealer and collector communities owe Mr. Hendrickson a debt of gratitude for his generosity,” said ICTA executive director Kathy McFadden.

“Indiana now joins the 32 other states with a sales-tax exemption. I wish to thank everyone that helped make this exemption a reality. I could not be happier with the outcome,” said Hendrickson.

About ICTA

ICTA is a 501(c)(6) nonprofit association that represents the rare-coin, paper money, and precious-metals bullion communities. ICTA is supported solely by dues and donations. To join and/or learn more about ICTA, please visit our website, www.ictaonline.org.

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