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OH HB357
Bill
Status
11/20/2013
Primary Sponsor
John Becker
Click for details
AI Summary
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Amends Ohio Revised Code section 5739.01 to add new division (H)(5) defining how "price" is calculated when vendors accept items (called "cores") from consumers for recycling or remanufacturing.
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Allows vendors to reduce the taxable price by the credit given to consumers when a core is received at the time of sale; if the core arrives after the sale, the vendor must refund the tax paid on the credit amount.
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Defines "core" as an item of tangible personal property conveyed by a consumer to a vendor for the purpose of recycling or remanufacturing.
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Effective on and after the first day of the first month beginning after the act's effective date.
Legislative Description
To exclude credits afforded by vendors to consumers for conveying items of tangible personal property to the vendor for recycling or remanufacturing from the price of a sale for sales and use tax purposes.
Sales tax-computation of price-exclude credits for recycling/remanufacturing
Last Action
To Ways and Means
11/20/2013