National Coin & Bullion Association - Important Announcement:...

added a photo

Important Announcement: Addressing Changes to Coin and Precious-Metals Bullion Sales Tax Threshold Levels in California

We have some exciting news to share regarding recent developments in California's coin and precious-metals bullion community! Last week, Senate Bill 889 (SB 889) reached the desk of Governor Newsom for his signature, marking the successful conclusion of a three-month negotiation between the California Coin and Bullion Merchants Association (CCBMA) and the California Department of Tax and Fee Administration (CDTFA). For the full story, click here: https://bit.ly/46WXS2T

Photo Source: Andre M, “Sacramento, View of California State Capitol from 10th Street,” n.d., https://en.wikipedia.org/wiki/California_State_Capitol.

📢 Important Announcement: Addressing Changes to Coin and Precious-Metals Bullion Sales Tax Threshold Levels in California We have some exciting news to share regarding recent developments in California's coin and precious-metals bullion community! 🌟 Last week, Senate Bill 889 (SB 889) reached the desk of Governor Newsom for his signature, marking the successful conclusion of a three-month negotiation between the California Coin and Bullion Merchants Association (CCBMA) and the California Department of Tax and Fee Administration (CDTFA). For the full story, click here: https://bit.ly/46WXS2T Photo Source: Andre M, “Sacramento, View of California State Capitol from 10th Street,” n.d., https://en.wikipedia.org/wiki/California_State_Capitol.

4 Comments 1 Shares 1221 Views

Commenting is disabled.

SethChandler

This is quite helpful. Thank you. Appreciate your efforts NCBA. In summary, collect sales taxes as of July 1, 2023?

This is quite helpful. Thank you. Appreciate your efforts NCBA. In summary, collect sales taxes as of July 1, 2023?
- National Coin & Bullion Association
  
  That's correct! As per the amendment, the January 1, 2023, increase in the operative threshold will be effective from July 1, 2023. Starting on or after January 1, 2024, any subsequent increases in the operative threshold will take effect on the first day of the second calendar quarter following the effective date of amendments that incorporate the threshold increase into the department's regulations. You can find more details in SB 889, §1.6355(3)(A)(B) here: https://bit.ly/3Dmln7I
  
  That's correct! As per the amendment, the January 1, 2023, increase in the operative threshold will be effective from July 1, 2023. Starting on or after January 1, 2024, any subsequent increases in the operative threshold will take effect on the first day of the second calendar quarter following the effective date of amendments that incorporate the threshold increase into the department's regulations. You can find more details in SB 889, §1.6355(3)(A)(B) here: https://bit.ly/3Dmln7I
IanRussell

SethChandler

[SethChandler]
IanRussell

Excellent!!

Excellent!!
- 1