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GA HB428
Bill
Status
Engrossed
3/8/2021
Primary Sponsor
Charles Martin
Click for details
AI Summary
- Expands the sales and use tax exemption for computer equipment sold or leased to high-technology companies by updating eligible NAICS codes from the 2017 classification system, adding codes 541713, 541715, and 541720 while removing several outdated codes
- Exemption applies when computer equipment sales exceed $15 million per calendar year, or leased equipment fair market value exceeds $15 million per calendar year, for equipment incorporated into Georgia facilities
- Requires high-technology companies holding exemption certificates to report annually to the commissioner, listing facilities where exempted computer equipment is incorporated and the total amount of taxes exempted during the preceding calendar year
- Commissioner may refuse to reissue exemption certificates to companies that fail to comply with the new annual reporting requirement
- Effective date of January 1, 2022
Legislative Description
Sales and use tax; change certain definitions
Last Action
Senate Tabled
4/1/2022
Committee Referrals
Finance3/9/2021
Ways and Means2/16/2021
Full Bill Text
No bill text available