H.B. 93 - Sales & Use Tax Overcollection

• Allows sellers to offset overcollected sales tax on one transaction against a use tax liability on a related transaction, rather than receiving a refund of the overcollected amount.

• Requires sellers to choose between either receiving a refund of the overcollected sales tax (if they refund the amount to the purchaser) or offsetting their use tax liability, but not both.

• If a seller neither receives a refund nor offsets a use tax liability, the state retains the overcollected tax amount.

• Clarifies that a seller's decision to offset their use tax liability does not relieve them of their obligation to refund or credit the overcollected tax to the purchaser.

• Effective July 1, 2011, and applies to all tax liabilities accruing on or after that date.