HB 1655 Summary

• Designates marketplace facilitators as the seller of tangible personal property for general excise tax and use tax purposes, making the actual seller liable for wholesale taxation under section 237-4.

• Requires forum providers (non-marketplace facilitators) to post conspicuous notices about use tax obligations, provide written notices to purchasers, and submit annual reports by April 20th detailing purchaser information and purchase amounts.

• Imposes penalties of $1,000 per month (up to $12,000 maximum) on forum providers and referrers who fail to comply with notice and reporting requirements without reasonable cause.

• Defines "marketplace facilitator" as a person who provides a physical or electronic forum for sellers to list property and collects and transmits payment to the seller.

• Defines "referrer" as a person who contracts to list or advertise tangible personal property for commission or fee and transfers potential purchasers to the seller without taking sales orders or collecting payment.