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MS SB2095
Bill
Status
2/27/2013
Primary Sponsor
Joey Fillingane
Click for details
AI Summary
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Increases contractor's tax rate from 3.5% to 4.5% on total contract price or compensation received for construction and related activities.
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Raises the compensation threshold triggering the contractor's tax from $10,000 to $100,000.
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Classifies free-standing furniture, appliances, and similar tangible personal property as component parts of structures subject to contractor's tax when the total contract price (excluding such property) exceeds $100,000 and the contract includes charges for the property.
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Property purchased separately by the project owner or non-general contractor remains subject to applicable retail sales tax rates unless otherwise exempt.
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Effective date: October 1, 2013.
Legislative Description
Contractor's tax; increase rate, increase contract amount needed to be eligible for and include certain personal property under.
Last Action
Died In Committee
2/27/2013