Seattle Times Supports UsWHAT VOTERS NEED TO KNOW
RCW 82.04.062 was enacted in 1985 to tax investment bullion the same as other investment products such as stocks, i.e. exempting sale proceeds other than commissions. Today, the legislature is seeking to repeal that exemption, which will likely sound the death knell of the coin and bullion industry in Washington.
You support average citizens by opposing this legislation.
Most coin and bullion dealers are small businesses with few employees, and most bullion purchases are made by small investors who seek to protect their earnings.
You get a fair return on your investments by opposing this legislation.
Should the legislature repeal the current exemption, all bullion investors in Washington will automatically be deprived of roughly the first 8% of their gain. Those investing in stocks or bonds are not similarly penalized. Is that fair?
You keep jobs in Washington by opposing this legislation.
Businesses operating at small margins on coin and bullion sales will be forced to leave the state to compete with businesses operating on the Internet from states that don’t charge sales tax. Hasn’t the state lost enough jobs already? Why does the legislature want to postpone economic recovery?
The state keeps more revenue by opposing this legislation.
The likely decline in bullion investment, accompanied by probable loss of jobs and possible relocation by businesses to other states, will mean the state will lose more tax revenue than it might gain. How does this help?
RETAIN THE COIN AND BULLION INDUSTRY’S CONTRIBUTION TO WASHINGTON’S ECONOMY
The current economy has increased the attractiveness of precious metal investment, thus increasing jobs and commission tax revenue from Washington’s bullion industry.
Find and Contact Your LegislatorLET YOUR LEGISLATORS KNOW THAT YOU SUPPORT CONTINUING THE EXEMPTION ON SALES TAX FOR WASHINGTON STATE’S COIN AND BULLION DEALERS.
Use the toll-free legislative hotline to call the Governor, Lt. Governor, your Senator, or Representatives with your message of support by using Washington State’s toll-free legislative hotline: 800-562-6000 (TTY for Hearing Impaired 1-800-635-9993).
Phone: 253.217.7301
Washington Coin and Bullion Association
P.O. Box 11089, Tacoma, WA. 98411