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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