This is a quick update to an issue we highlighted early in the year. There was valid concern that the Georgia legislators would be looking at the tax exempt programs in the state for potential revenue into the state’s coffers.
See our earlier posts from January: Sales Tax and Sales Tax #2 for more background on the Georgia sales tax concerns.
As you may know, the Georgia General Assembly ended its sessions in mid April.
Though legislators frequently discussed tax issues, they did not pursue any tax changes at this time. Furthermore, the coin sales tax exemption was not high on the list to be considered for potential revenue.
The lobbyist for numismatic and investment interests in Georgia feels that the coin and investment bullion tax will not be an issue in the near future. That’s not to say that it won’t be an issue – just that it is currently well down the list of adding any potential revenue.
Of course, things change and this could readily become a topic for discussion especially if the governor chooses to make tax exemptions a focal point.
But, for now, numismatic collectibles and coin and bullion investments remain tax exempt in Georgia.