A grass root effort is underway to exempt purchases of coins and precious metals from Minnesota sales tax. This effort has been undertaken to safeguard consumers; prevent large amounts of revenue from leaving Minnesota; and to create more jobs for Minnesotans.
Minnesota law maker Mary Kiffmeyer has provided support for HF-1107 and SF-1944 – the bills in front of the legislature for consideration.
There are currently 30 other states that have exemptions for investors looking to purchase coins, currencies and precious metals. One of these states, Michigan, has had a sales tax exemption in place for the past 10 years. In that ten year period the coin and precious metals industry in Michigan has experienced dramatic business growth resulting in more jobs and more revenue for the state.
A great number of people believe Minnesota can benefit with these exemptions like so many other states are doing, but they need your help. Please call or email your legislator and tell them you are in favor of HF-1107 and SF-1944 to exempt sales tax on your purchases of coins, currencies and precious metals.
