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IN HB1050
Bill
Status
1/5/2016
Primary Sponsor
Gregory Steuerwald
Click for details
AI Summary
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Establishes an annual sales tax holiday running from 12:01 a.m. on the second Friday of August through 11:59 p.m. on the immediately following Sunday, beginning in 2016 and continuing through 2017.
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Exempts clothing items with a sales price not exceeding $100 from state gross retail tax during the holiday period, including apparel such as coats, shirts, pants, footwear, hats, gloves, undergarments, and uniforms.
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Exempts school supplies, school art supplies, and school instructional materials with a sales price not exceeding $15 from state gross retail tax during the holiday, including items such as notebooks, pencils, calculators, paints, textbooks, and reference materials.
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Applies exemptions only to items purchased for nonbusiness use in retail transactions.
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Expires July 1, 2018, with the department authorized to adopt rules for implementation.
Legislative Description
Sales tax holiday. Provides a sales and use tax exemption each year beginning on the second Friday of August 2016 and August 2017 through the following Sundays (sales tax holiday) for the following items: (1) Clothing, if the sales price does not exceed $100. (2) A school supply, school art supply, or school instructional material, if the sales price does not exceed $15. Incorporates the definitions of these items as set forth in the Streamlined Sales and Use Tax Agreement.
Last Action
Representative GiaQuinta added as coauthor
1/11/2016