An act relating to a sales tax exemption for precious metals sold for investment

This bill would exempt sales of precious metals sold for investment from Vermont's sales and use tax when the transaction is valued at $1,000 or more. It directly affects buyers of gold and silver bullion or coins who are purchasing for investment purposes rather than for industrial or artistic use. The law would continue to tax the first $1,000 of any such sale while exempting amounts above that threshold. The exemption applies specifically to rare coins with numismatic value and gold or silver bullion or coins traded according to their precious metal value. This change would take effect on July 1, 2023.