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Committee hears bill to exempt coins and currency from sales tax
Summary
House File 881 would expand Minnesota's existing exemption for bullion to include coins and collectible currency; proponents said the fiscal impact is modest and supporters asked the committee to lay the bill over for possible inclusion in the omnibus tax bill.
Representative Bob Olson introduced House File 881, which would expand Minnesota's sales tax exemption for bullion to also cover collectible coins and currency. Olson said 44 other states exempt bullion or collectible currency and that the change would make small-denomination collectible coins affordable to more Minnesotans.
JP (J. P.) Cortez, testifying remotely,…
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