ICTA - Your Industry Watchdog | News
North Carolina Joins 35 Other States with a Sales-Tax Exemption

2001 North Carolina QuarterOn Tuesday, July 25, 2017, North Carolina governor Roy Cooper signed into law House Bill 434: Coins/Currency/Bullion Sales Tax Exemption. The law is a complete sales-and-use tax exemption on coins, currency, and precious-metals bullion sales.

“The bill’s author, Representative Dana Bumgardner, coauthors Representative Jeff Collins, Representative Mark Brody, and Representative Mike Clampitt, along with its Senate sponsor, Senator Bill Rabon, championed the bill through the legislature,” said Mitch Hyatt (Hyatt Coin Shop, Charlotte, North Carolina). “North Carolina coin businesses and collectors owe them a debt of gratitude.”

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Meet a Former U.S. Mint Director

Philip N. Diehl

Meet former U.S. Mint director Philip N. Diehl in person at the 2017 American Numismatic Association (ANA) World’s Fair of Money in Denver!

From Diehl’s creation of the popular 50 State Quarters program to his launch of the first-ever U.S. government–issued platinum coin, he is considered one of the most influential U.S. Mint directors of the modern era.

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ICTA Launches Facebook Page

The Industry Council for Tangible Assets (ICTA) is now on Facebook. The association’s new social media site is a place where visitors can learn more about the association and members can stay up to date on association activities.

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New Louisiana Coins and Precious-Metals Bullion Exemption Enacted

2002 Louisiana Quarter. United States Mint image.Last year, the Louisiana legislature, facing a $900 million deficit, held a special legislative session and increased Louisiana’s 4% sales tax to 5%. In addition to increasing the state sales tax, it eliminated nearly all tax exemptions and exclusions—including numismatic coins and precious-metals bullion exemptions—for three months, from April 1 through June 30.

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Minnesota Sales-Tax Exemption Legislation Enacted

United States Mint image.On May 30, 2017, Minnesota governor Mark Dayton signed into law omnibus bill H1A, which included a sales-tax exemption on precious-metals bullion. (An omnibus bill is a proposed law that covers many diverse or unrelated topics.) The new law will take effect on July 1, 2017. Minnesota becomes the 35th state to have a complete or partial sales-tax exemption on the retail sales of rare coins, currency, and precious-metals bullion.

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