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Supporters urge SB 309 to restore sales-tax exemption for small bullion purchases; committee questions fiscal note
Summary
A staffer for Sen. Jennings said SB 309 would make permanent Maryland's sales-tax exemption for gold and silver purchased for investment and extend it under $1,000; committee members questioned a $2 million fiscal note and cited dealer reports of sharp sales declines.
Senate Bill 309, presented to the Ways and Means Committee on behalf of Senator Jennings, seeks to restore and make permanent a Maryland sales-tax exemption for gold and silver purchased primarily for investment or savings and extend the exemption to purchases under $1,000.
The staffer presenting the bill said the measure "restores and makes permanent…
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