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Senate Engrossed |
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State of Arizona Senate Fifty-second Legislature Second Regular Session 2016
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SENATE BILL 1423 |
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AN ACT
amending title 42, chapter 1, article 3, Arizona Revised Statutes, by adding section 42‑1131; relating to taxation.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 42, chapter 1, article 3, Arizona Revised Statutes, is amended by adding section 42‑1131, to read:
42‑1131. Gold and silver coin exchanges; taxation
Notwithstanding any other law, the exchange of gold or silver coins does not give rise to liability for any type of tax. Gold and silver coins are money and are not subject to taxation except as may be required by article IX, section 2, subsection 13, constitution of Arizona.