Budget & Taxes (Tax Incentives)

H 711 would exempt sales of gold or silver bullion and coins purchased for investment from Vermont's sales and use tax, effective July 1, 2026. The bill specifically covers refined gold/silver bullion and coins (like bars or minted coins) used as investment, excluding jewelry, art, or industrial metals. It amends Vermont law to clarify that this exemption promotes investment in precious metals and defines "precious metal bullion or coins" as items valued primarily by their metal content. This change directly affects individuals and investors buying investment-grade gold or silver.

This bill exempts certain forestry vehicles from Vermont's vehicle use tax. It provides full tax exemption for specific equipment used in timber cutting, removal, and processing (like skidders, feller bunchers, and log loaders), and a 50% tax exemption for heavier vehicles used in transportation (such as semi-trailers and trucks over 10,000 pounds). Businesses purchasing these vehicles must certify their use at purchase, and the Department of Motor Vehicles must provide application guidance. The exemptions begin July 1, 2025, and expire July 1, 2028.