Indiana Governor Signs Sales-Tax Exemption Bill
Friday, March 25, 2016
Section: States

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.

Indiana State Quarter (United States Mint image).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.