US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 36
                                  SALES TAX
    63-3622V.  BULLION. There is exempted from the taxes imposed by this
chapter:
    (a)  The sale of precious metal bullion or the sale of monetized bullion.
    (b)  For purposes of this section, "precious metal bullion" means any
elementary precious metal which has been put through a process of smelting or
refining including, but not limited to, gold, silver, platinum, rhodium, and
chromium, and which is in such state or condition that its value depends upon
its contents and not upon its form.
    (c)  For purposes of this section, "monetized bullion" means coins or
other forms of money manufactured from gold, silver, or other metals and
heretofore, now, or hereafter used as a medium of exchange under the laws of
this state, the United States, or any foreign nation, but shall not include
coins or money sold to be manufactured into jewelry or works of art.