Liberty Coin Service’s Heller helped change laws enacted this year In three other states
Tuesday, July 12, 2016
In the first six months in 2016, the governors of Indiana and Ohio signed legislation where Liberty Coin Service’s Patrick A. Heller had traveled to the states to provide legislative and fiscal agency testimony and other support. Indiana HB 1046, a law that established a sales tax exemption on the retail sale of rare coins, precious metals bullion, and paper money, was signed by Governor Mike Pence on March 24 and took effect July 1. Ohio SB 172, a law that created a sales tax exemption on the retail sales of precious metals bullion and bullion-priced coins made of precious metals, was signed by Governor John Kasich on June 14 and will become effective January 1, 2017. In addition, Heller traveled to Minnesota in late 2015 to assist others there working to modify onerous 2013 regulations that had driven half of that state’s coin dealers out of business. Minnesota SF 3175 was signed by Governor Mark Dayton on May 19, which took effect July 1.
Said Liberty Coin Service Owner Tom Coulson, “Pat’s efforts and research resulted in the successful Michigan effort in 1999 to establish a sales tax exemption on in-state sales of rare coins and precious metals bullion. He later documented that Michigan’s state Treasury experienced a net increase in collections of sales taxes and all taxes as a result of this exemption. Sharing this information with other states, working as a long-time member of the board of directors of the Industry Council for Tangible Assets (ICTA, the national coin dealer trade association) he has helped successful efforts to establish or expand similar sales tax exemptions in ten states ranging from Iowa and South Carolina to Pennsylvania and Texas. When Ohio’s exemption takes effect at the beginning of next year, there will be 34 states, including all twelve of the most populous, with complete or partial sales tax exemptions on the retail sales of rare coins and precious metals bullion.”
Frequently-honored Liberty Coin Service, founded in 1971, is Michigan’s largest rare coin and precious metals dealership. Former owner and current LCS Communications Officer Patrick A. Heller writes the company’s nationally-respected monthly newsletter, Liberty’s Outlook, contributes weekly commentaries to other national publications, and is a nationwide speaker. He has been interviewed by, quoted in, cited by, or written for The Wall Street Journal, Forbes.com, ABCNews.com, Fox Business News, The Journal of Accountancy, Michigan Banker, London’s Financial Times, and several major American newspapers. He also produces radio commentaries and programs for two Lansing-based radio stations. Heller was also credited for his research contributions to the recently-released book American Gold And Silver by Dennis Tucker.