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GA HB932

Bill

Official Source

Status

Passed

5/1/2012

Primary Sponsor

Hardie Davis

Click for details

Origin

House of Representatives

2011-2012 Regular Session

AI Summary

  • Reduces the required withholding percentage on payments due to nonresident subcontractors from up to 4% to a flat 2% for satisfaction of state sales or use taxes owed
  • Applies to general or prime contractors who enter into construction contracts with nonresident subcontractors where the total contract amount equals or exceeds $250,000 on a given project
  • Withholding must continue on all qualifying contracts until the nonresident subcontractor provides a certificate from the commissioner confirming all sales taxes from the contract have been paid
  • General or prime contractors who fail to withhold the required 2% become personally liable for any sales or use taxes owed by the nonresident subcontractor
  • Amends Code Section 48-8-63 of the Official Code of Georgia Annotated; passed both the House and Senate

Legislative Description

Taxation; nonresident subcontractor withholding payments; change required percentage

Last Action

Effective Date

7/1/2012

Committee Referrals

Finance2/29/2012
Regulated Industries2/8/2012

Full Bill Text

No bill text available