New York S07875 amends the tax law to require sales tax exempt precious metal bullion to be purchased by a bank, a foreign government, the U.N., or.

New York S07875 amends the tax law to specify that sales tax exempt precious metal bullion must be purchased by a bank, a foreign government, the United Nations, or any state, federal, or local government. The bill defines precious metal bullion as bars, ingots, or coins of gold, silver, platinum, palladium, rhodium, ruthenium, or iridium, excluding those manufactured or used for industrial, professional, aesthetic, or artistic purposes. The bullion must be sold or bought by the specified entities, and the consideration given must depend solely on the metal content's value.

New York S07875 amends the tax law to require sales tax exempt precious metal bullion to be purchased by a bank, a foreign government, the U.N., or.

New York S07875 amends the tax law to specify that sales tax exempt precious metal bullion must be purchased by a bank, a foreign government, the United Nations, or any state, federal, or local government. The bill defines precious metal bullion as bars, ingots, or coins of gold, silver, platinum, palladium, rhodium, ruthenium, or iridium, excluding those manufactured or used for industrial, professional, aesthetic, or artistic purposes. The bullion must be sold or bought by the specified entities, and the consideration given must depend solely on the metal content's value.