Assembly Bill 758 proposes amendments to the sales and use tax exemption for the sale of precious metal bullion in Wisconsin. Currently, purchasers must provide an exemption certificate to claim this exemption. The bill seeks to eliminate this requirement, allowing buyers to claim the exemption without needing to present a certificate at the time of purchase. This change aims to simplify the process for consumers and reduce administrative burdens for sellers.

In addition to removing the certificate requirement for precious metal bullion, the bill also makes adjustments to the relevant statutes, specifically amending sections 77.52 (13) and 77.53 (10). The amendments include the addition of new exemptions under section 77.52, which now includes item (74) alongside the previously listed exemptions. This legislative change is intended to enhance the clarity and efficiency of tax administration related to these transactions.

Statutes affected:
Bill Text: 77.52(13), 77.52, 77.53(10), 77.53