ICTA - Your Industry Watchdog | News
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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Texas Attorney General Issues Gold Coins Consumer Protection Tips

Texas Attorney General SealWith input from numismatic experts, the Attorney General of Texas, Ken Paxton, has issued a consumer protection alert about buying and selling gold coins.

Award-winning rare coins and precious metals writer, Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas, provided continuing consultation to the attorney general’s office on this important consumer alert. Fuljenz, in coordination with other key numismatic industry leaders, offered guidance on consumer protection best practices for precious metals consumers.

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ICTA Names 11 to Task Force Steering Committtee, Forms Work Groups

The Industry Council for Tangible Assets has named an 11-member Steering Committee and has formed eight Work Groups to begin the work of its Anti-Counterfeiting Task Force.

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Members’ New Shipping-Insurance Benefit Program

ShipandInsure.comICTA announces a new benefit program for its members! Shipping insurance for shipping outbound or inbound, domestic, or international packages at extremely competitive rates could not be easier. Claims are processed promptly for loss, partial loss, or damage, providing peace of mind. Shipments are covered in full with no deductible.

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Virginia Sales-Tax Exemption Expanded to Include Coins

Virginia State QuarterOn February 22, Governor Terry McAuliffe signed VA HB 1668 to expand Virginia’s sales-and-use tax exemption to include legal tender coins, effective January 1, 2018, to June 30, 2022.

Virginia had a short, 6.5-week legislative session. Companion bills were introduced in the House and Senate to fast-track them; both bills passed. The companion bill, VA S 934, missed the deadline for early action by the governor and should be acted on in March.

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