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§ 11-214.1. Precious coins and bullion

West's Annotated Code of MarylandTax-General

West's Annotated Code of Maryland
Tax-General (Refs & Annos)
Title 11. Sales and Use Tax (Refs & Annos)
Subtitle 2. Exemptions (Refs & Annos)
MD Code, Tax - General, § 11-214.1
§ 11-214.1. Precious coins and bullion
Currentness
Precious metal bullion or coins defined
(a) In this section:
(1) “precious metal bullion or coins” means:
(i) any precious metal that has gone through a refining process and is in a state or condition such that its value depends on its precious metal content and not on its form; or
(ii) except as provided in paragraph (2) of this subsection, monetized bullion, coins, or other forms of money that:
1. are manufactured from precious metals; and
2. are or have in the past been used as a medium of exchange under the laws of the State, the United States, or a foreign nation; and
(2) “precious metal bullion or coins” does not include jewelry or a work of art made of precious metal bullion or coins.
Sale price greater than $1,000
(b) The sales and use tax does not apply to a sale of precious metal bullion or coins if the sale price is greater than $1,000.

Credits

Added by Acts 1990, c. 584. Amended by Acts 1991, c. 55, § 1; Acts 1995, c. 623, § 1, eff. July 1, 1995.
MD Code, Tax - General, § 11-214.1, MD TAX GENERAL § 11-214.1
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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