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GA HB347

Bill

Official Source

Status

Engrossed

3/24/2010

Primary Sponsor

Ellis Black

Click for details

Origin

House of Representatives

2009-2010 Regular Session

AI Summary

  • Amends Code Section 48-8-2 of the Official Code of Georgia to change the definition of "sales price" for sales and use tax purposes
  • Adds a new exclusion from "sales price" for ad valorem tax reimbursements on leased or rented equipment, where the lessor pays the ad valorem taxes but charges an equivalent amount to the lessee
  • The ad valorem tax reimbursement amount shall not be deemed part of total gross lease or rental proceeds subject to sales and use tax
  • Retains existing exclusions from sales price: cash discounts, charges for installation/repair labor, and finance charges or interest on deferred payment contracts
  • Offered as a substitute by the House Committee on Ways and Means

Legislative Description

Sales and use tax; sales price; change definition

Last Action

Senate Read Second Time

4/20/2010

Committee Referrals

Finance3/26/2010
Ways and Means2/10/2009

Full Bill Text

No bill text available