Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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C

168.0000 COINS AND BULLION—Regulation 1599

Annotation 168.0225

(b) BULLION

168.0225 Crown Casting Units. An individual engaged in selling various types of tangible personal property, including dental gold, sold "crown casting units" to dentists. These units, containing gold, silver, and copper are gold alloy used to fill patients' teeth.

"Fabricated gold," defined as any processed or manufactured gold having a gold content not exceeding 90%, is excluded from the definition of "gold bullion." The description of the crown casting units sold to the dentists contain only 79.9% gold. Therefore, they do not qualify as nonmonetized gold bullion. Additionally, the sales were not substantially equivalent to security or commodity transactions through a national exchange. Tax applies to these sales. 5/29/90.