Survival of Washington’s Metal and Bullion Industry
Without the exemption, coin and bullion dealers in Washington won’t be able to complete with out-of-state vendors who receive the same benefit.
Loss of Jobs
More than 100 small businesses and 300 individuals throughout the state would be adversely affected by the repeal of RCW 82.04.062, forcing many companies to cut jobs to save money.
Decreased Tax Revenue
Sales revenue from non-exempt lines of business, such as commemorative medallions, stamps, jewelry, etc. would be greatly reduced, contributing to the very budget problems the repeal of RCW 82.04.062 is supposed to alleviate.
How Will the Repeal Affect You?End of Equal Treatment
Securities dealers in Washington State are not required to collect tax on the sale of commodities. Nor do they pay B&O tax on their gross sales. Since precious metal bullion is considered a commodity, precious metal coin and bullion dealers should retain the same exemption.
Phone: 253.217.7301
Washington Coin and Bullion Association
P.O. Box 11089, Tacoma, WA. 98411