Nebraska Passes Sales Tax Exemption for Coins & Bullion

OMAHA, Neb., April 21, 2014 /PRNewswire/ -- DSS Coin & Bullion would like to notify consumers that on April 2, Governor Dave Heineman signed LB 867, a sales tax exemption law which immediately went into effect upon signing. "This is a great opportunity for consumers and collectors to build their wealth sales tax-free," DSS owner David Schroeder says.

The portion of the bill relevant to rare coins and precious metals product is Section 14:

• Sales and use taxes shall not be imposed on the gross receipts from the sale, lease, or rental of and the storage, use, or other consumption in this state of currency or bullion.

(2) For purposes of this section:

• (a) Bullion means bars, ingots, or commemorative medallions of gold, silver, platinum, or palladium, or a combination of these, for which the value of the metal depends on its content and not the form; and
• (b) Currency means a coin or currency made of gold, silver, or other metal or paper which is or has been used as legal tender.

For more information on the Nebraska sales tax exemption, please call DSS at (402) 342-9153.

David Schroeder founded DSS Coin and Bullion in 2001 in Omaha, NE. He saw the expanding coin market beginning with the development of eBay and the Internet. He understood that these sales techniques would allow coin dealers like him to reach new markets all over the world. DSS has since expanded to a second west location that primarily sells jewelry, watches, and collectibles. Visit www.dsscoinandbullion.com for more information.

SOURCE DSS Coin & Bullion