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BTLG Table of Contents > Sales and Use Tax Annotations > C > 168.0000 Coins And Bullion > Annotation 168.0280

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C

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168.0000 Coins and Bullion—Regulation 1599

Annotation 168.0280

(b) Bullion

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168.0280 Monetized and Nonmonetized Bullion Seller. Since monetized and nonmonetized bullion is not a kind of property whose retail sale is always exempt, a person selling monetized and nonmonetized bullion is a seller under section 6014 and is required to hold a permit under section 6066. This is true whether or not the taxpayer ever actually makes sales subject to tax (i.e., sales of less than $1,000). Since the taxpayer is required to hold a seller's permit, its sale of property used in the course of such activities does not qualify for the occasional sales exemption. Therefore, the sale of such property is subject to sales tax. 1/25/94.

(Note.—The bulk sale exemption threshold has changed; see Regulation 1599 for threshold amounts.)