S628 - Various Changes to the Revenue Laws

• Modifies corporate franchise tax structure by establishing a three-part tax base calculation (net worth, property value, or tangible investment) with a flat rate of $1.50 per $1,000, minimum $200, effective for taxable years beginning January 1, 2020.

• Expands sales and use tax definitions and rates for real property contracts, capital improvements, repair/maintenance services, and service contracts; establishes different taxation rules based on contract type and includes grace period protections for taxpayers through July 1, 2018.

• Creates new motor fuel tax provisions clarifying when ethanol and biodiesel imports are subject to excise tax, particularly regarding terminal delivery locations assigned Internal Revenue Service terminal control numbers.

• Enhances Department of Revenue enforcement procedures including new identity theft penalties, payment settlement entity reporting requirements, and streamlined collection processes with taxpayer inaction provisions.

• Makes administrative and technical changes to motor fuel licensing terminology (replacing "registration" with "licensure"), property tax treatment of mobile classrooms, and allows taxpayers to contribute refunds to breast and cervical cancer detection programs.