Utah – Purchases Made With Specie Legal Tender

SALT Report 1623 – The Utah State Tax Commission updated the regulation regarding the taxability of purchases made with specie legal tender.  Effective July 26, 2012 all sellers must use the London fixing price to determine the amount of sales tax due in specie legal tender and in dollars.  If the London fixing price is not available on the day the purchase is made in specie legal tender, the seller must use the most current London fixing price that precedes the date of the purchase.
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