Indiana Code 6-2.5-5-47. Coins, bullion, and legal tender
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Sec. 47. Transactions involving the sale of or the lease or rental of storage for:
(2) bullion that would be a permitted investment by an individual retirement account or by an individually-directed account under 26 U.S.C. § 408(m) if the bullion was in the physical possession of a trustee; or
(1) coins that are permitted investments by an individual retirement account or by an individually-directed account under 26 U.S.C. § 408(m);
Terms Used In Indiana Code 6-2.5-5-47
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- Trustee: A person or institution holding and administering property in trust.
(3) legal tender;
are exempt from the state gross retail tax.
As added by P.L.195-2016, SEC.1. Amended by P.L.239-2017, SEC.9.