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ID H0387
Bill
AI Summary
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Removes language from Section 63-3613 regarding tax credits for worthless accounts and makes a technical correction to that section.
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Amends Section 63-3623 to provide a correct code reference regarding vending machine sales tax reporting procedures.
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Transfers the worthless accounts tax credit provision from Section 63-3613 to Section 63-3626, allowing taxes previously paid on worthless accounts to be credited against subsequent tax payments or refunded if no tax is owed.
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Specifies that when previously collected accounts are paid later, a new tax obligation arises on the collected amount.
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Requires that partial payments on worthless debts be credited first to tax liability before applying to principal.
Legislative Description
Amends existing law to delete language about taxes previously paid on amounts represented by accounts found to be worthless may be credited upon a subsequent payment of the sales and use tax; and to provide taxes previously paid on amounts represented by accounts found to be worthless may be credited upon a subsequent payment of the tax provided in this chapter or, if no such tax is due, refunded.
SALES TAX
Last Action
to Rev/Tax
1/19/2010