The bill amends section 212.08 of the Florida Statutes to exempt the sale of gold, silver, and platinum bullion from state sales tax. Specifically, it removes the previous requirement that the sales price must exceed $500 for the exemption to apply and eliminates the need for dealers to maintain documentation to identify the exempt portion of a transaction involving bullion. This change simplifies the process for both buyers and sellers of bullion by removing financial thresholds and documentation requirements.

The effective date for this exemption is set for July 1, 2025. By enacting this bill, the legislature aims to encourage investment in precious metals by making transactions more accessible and less burdensome from a regulatory standpoint.

Statutes affected:
S 134 Filed: 212.08