WCBA Mission Statement
The Washington Coin and Bullion Association is committed to improving the business climate in the state’s metal and bullion industry through education and legislative advocacy efforts, including a statewide campaign to prevent the repeal of RCW 82.04.062, which provides much needed tax relief for licensed coin and bullion dealers.
What is RCW 82.04.062?
This law provides a sales tax exemption for precious metal bullion products and limits the Business and Occupation (“B&O”) tax to commissions from such sales.
Background
In 1985, the Washington State Legislature enacted RCW 82.04.062, providing critical tax relief to Washington State’s coin and bullion dealers and enabling them to compete in the national market. Though periodically challenged, this legislation has survived for over two decades.
Learn What's at Stake2010 Repeal Movement
In the proposed 2010 Washington State Budget, the legislature is currently considering a bill proposing to repeal RCW 82.04.062. Instead of increasing revenue to fill Washington State’s budget deficit, this action would actually reduce revenue and cause the loss of hundreds of jobs throughout the state. The repeal of RCW 82.04.062 would take away the state’s coin and bullion dealer’s ability to compete with sellers from other tax- exempt states.
Phone: 253.217.7301
Washington Coin and Bullion Association
P.O. Box 11089, Tacoma, WA. 98411