H02062017 Regular Session
Amends existing law to provide that capital gains and losses on precious metals bullion and monetized bullion sales be added to or subtracted from Idaho taxable income under certain circumstances.
INCOME TAXATION -- Amends existing law to provide that capital gains and losses on precious metals bullion and monetized bullion sales be added to or subtracted from Idaho taxable income under certain circumstances.
INCOME TAXATION
STATEMENT OF PURPOSE
The framers of our nation established that gold and silver are money, but federal taxing authorities in recent decades have required taxpayers to report nominal capital "gains" and "losses" when exchanging this form of money for Federal Reserve Notes. Idaho already exempts precious metals sales from the sales tax. This bill will exempt the sale of precious metals bullion from being subject to capital gains.
HOW THEY VOTED
house Chamber· Mar 14, 2017
House Third Reading
✓ Passed
56 Yea
13 Nay
1 absentPassed by 61.43 votes
YEA (56)
RBrandon HixonHD-010ARBrent CraneHD-013ARBryan ZollingerHD-033BRCaroline TroyHD-005BRChristy PerryHD-011BRChristy ZitoSD-008RClark KauffmanHD-025BRDell RaybouldHD-034BRDon CheathamSD-003RDorothy MoonHD-008BRDustin ManwaringHD-029AREric RedmanHD-002BRGary CollinsHD-013BRGayann DeMordauntHD-014BRGreg ChaneyHD-010BRHeather ScottHD-002ARJames HoltzclawHD-020BRJanet TrujilloHD-033ARJason MonksHD-022BRJeffrey ThompsonHD-030ARJoe PalmerHD-020ARJudy BoyleHD-009BRJulie VanOrdenSD-030RKarey HanksHD-035ARKelley PackerHD-028BRLuke MalekHD-004ARLynn LukerHD-015ARMarcus GibbsHD-032ARMaxine BellHD-025ARMegan BlanksmaHD-008BRMike KingsleyHD-007ARMike MoyleHD-010ARNeil AndersonHD-031ARPatrick McDonaldHD-015BRPaul AmadorHD-004BRPaul ShepherdHD-007BRPriscilla GiddingsHD-007ARRandall ArmstrongHD-028ARRick YoungbloodHD-012BRRobert AnderstHD-012ARRon MendiveHD-005ARRonald NateHD-034BRRyan KerbyHD-009ARSage DixonHD-001BRScott BedkeHD-027ARScott SymeHD-011ARStephen HartgenHD-024BRSteve MillerHD-024BRSteven HarrisHD-021ARTerry GestrinHD-008ARThomas DayleyHD-021BRThomas LoertscherHD-032BRThyra StevensonHD-006ARVan BurtenshawSD-031RVito BarbieriHD-003ARWendy HormanHD-032B
ABSENT / NOT VOTING (1)
LATEST ACTION
Introduced, read first time; referred to: Local Government & Taxation
BILL INFO
- Session
- 2017
- Chamber
- house
- Status date
- Mar 14, 2017