New Jersey Tax Court January 7, 1983 (Armstrong v. Taxation Division Director)

LASSER, P.J.T.C.

As a result of an audit of his businesses by the Division of Taxation, plaintiff filed a complaint seeking a declaratory judgment (pursuant to N.J.S.A. 2A:16-52) that sales of gold coins and gold and silver bullion are exempt from New Jersey sales and use tax.

The following facts were stipulated by the parties:

1. Plaintiff is the sole shareholder of Collector’s Exchange, Ltd.