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LD 190

An Act To Exempt Certain Numismatic Transactions From State Sales Tax

132nd Legislature (2025-2026) Introduced by Paul Flynn

Exempts qualifying numismatic coin transactions from Maine sales tax, reducing after-tax cost for buyers of defined coin-related sales.

Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
#coins #exemptitems #salesandusetax
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Bill Summary · LD 190

Summary of LD 190: An Act To Exempt Certain Numismatic Transactions From State Sales Tax

Overview

LD 190 proposes to exempt certain numismatic transactions from Maine state sales tax. The bill focuses on coins and related numismatic items, aiming to reduce or eliminate sales tax on qualifying transactions. The text of the bill would define exactly which items and transactions qualify for the exemption, but that level of detail is not provided in the available summary.

Key Provisions (as described)

  • Exemption from state sales tax for qualifying numismatic transactions.
  • The bill would specify the scope, definitions, and qualifying criteria for which coin-related sales are exempt. (Definitional details are not provided in the summary.)

Who Would Be Affected

  • Retailers and sellers of numismatic items (coins, bullion, or related collectibles) who would be able to offer tax-exempt sales on qualifying transactions.
  • Purchasers of numismatic items that meet the defined criteria, who would benefit from reduced or eliminated sales tax.
  • The state’s Department of Administrative and Financial Services or its tax authority, which would administer and enforce the exemption if enacted.

Procedural and Timeline Aspects

  • Introduced: January 14, 2025.
  • Referred to the Committee on Taxation on January 14, 2025.
  • January 14, 2025: Bill sent for concurrence.
  • January 14, 2025: Suggested and ordered printed by the Committee on Taxation.
  • February 11, 2025: Reported Out with designation LTW and LTW approval by Chairs.
  • February 25, 2025: Placed in Legislative Files with status “DEAD” (pursuant to Joint Rule 310.3), indicating no further action in this session.

Status and Outlook

  • Current status: Dead in the current session. This means the bill is not expected to advance or become law unless reintroduced in a future legislative session.
  • If reintroduced, the bill would re-enter the same or a revised legislative process, potentially with updated definitions and fiscal impact considerations.

Practical Implications

If enacted, the exemption could broaden consumer choice in numismatic markets by lowering the after-tax cost of qualifying coin transactions and potentially affecting coin dealers’ pricing and sales strategies. Revenue impact to the state would depend on the scope of the exemption and how many transactions would qualify. As the bill is currently dead, no changes to current tax law would occur.

Compiled from official sources — confirm details with the bill’s official record.

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