Text: HF00342 Text: HF00344 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.42, Code 2001, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 3A. "Casual sales" includes,
1 4 notwithstanding subsection 3, the sales or the rendering,
1 5 furnishing, or performing of a recurring nature of tangible
1 6 personal property or services by the owner if, at the time of
1 7 the sale, all of the following apply:
1 8 a. The seller is not engaged for profit in the business of
1 9 selling tangible personal property or the rendering,
1 10 furnishing, or providing of services taxed under section
1 11 422.43. For purposes of this paragraph, the fact of the
1 12 recurring nature of selling tangible personal property or the
1 13 rendering, furnishing, or providing of services does not
1 14 constitute by itself engaging for profit in the business of
1 15 selling tangible personal property or the rendering,
1 16 furnishing, or providing of services.
1 17 b. The total gross receipts from the sales of tangible
1 18 personal property or the rendering, furnishing, or providing
1 19 of services during the calendar year does not exceed five
1 20 hundred dollars.
1 21 "Casual sales", as defined in this subsection, includes but
1 22 is not limited to, parking concessions on the seller's lawn or
1 23 driveway and participation in antique auto swap meets.
1 24 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
1 25 immediate importance, takes effect upon enactment.
1 26 EXPLANATION
1 27 Under the state sales and use taxes, an exemption exists
1 28 for casual sales. Current law defines casual sales as sales
1 29 of almost all a person's stock in trade to another who will
1 30 carry on the same business or a sale which is nonrecurring
1 31 made by someone who is not in the business of making sales
1 32 that are subject to the sales tax. This bill includes as a
1 33 casual sale the sale of tangible property or the furnishing of
1 34 a service which is recurring if the seller is not in the
1 35 business of selling or furnishing services and the total gross
2 1 receipts from these recurring sales and services do not exceed
2 2 $500.
2 3 The bill takes effect upon enactment.
2 4 LSB 2041YH 79
2 5 mg/gg/8
Text: HF00342 Text: HF00344 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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