Text: HSB00507 Text: HSB00509 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.45, Code Supplement 1995, is
1 2 amended by adding the following new subsection:
1 3 NEW SUBSECTION. 50. The gross receipts from the sale of
1 4 property or a service or a right to use property or a service,
1 5 including but not limited to the sale of copyrighted material,
1 6 syndicated features and columns, photographs, comics, clip
1 7 art, news stories, information and other material in whatever
1 8 form, which may be selected by the purchaser for use in the
1 9 publication of a magazine, newspaper, free newspaper or
1 10 shoppers guide, or similar printed product.
1 11 The exemption provided in this subsection is retroactive to
1 12 July 1, 1991.
1 13 Sec. 2. This Act, being deemed of immediate importance,
1 14 takes effect upon enactment and applies retroactively to
1 15 transactions occurring on or after July 1, 1991.
1 16 EXPLANATION
1 17 Under current law as administered by the department of
1 18 revenue and finance news stories and related features
1 19 purchased for selective inclusion in a publication do not
1 20 qualify for the general processing exemption because those
1 21 news stories and related features do not actually become a
1 22 physical part of the finished product. This bill specifically
1 23 exempts from the sales and use taxes syndicated features,
1 24 photographs, comics, news stories, information and other
1 25 material in whatever form purchased for use in the publication
1 26 of a magazine, newspaper, free newspaper or shoppers guide, or
1 27 similar printed product. This bill takes effect upon
1 28 enactment and the exemption is retroactive to July 1, 1991.
1 29 LSB 3354HC 76
1 30 mg/cf/24
Text: HSB00507 Text: HSB00509 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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