HB509: Retail sales and use tax; exemption on clothing, school supplies, computers and sports equipment.

Chief Patron

Del. Ward Armstrong (D-10)

Status

Bill is Dead

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Summary

Sales and use tax exemption; clothing, school supplies, computers, and sport or recreational equipment.  Provides a sales and use tax exemption for purchases made during a three-day period each year beginning the first Friday in August of the following items: (i) clothing with a sales price of $100 or less per item; (ii) school supplies with a sales price of $100 or less per item; (iii) computers with a sales price of $3,500 or less per item; and (iv) sport or recreational equipment with a sales price of $50 or less per item.  The exemption does not apply to sales of items for use in a trade or business.  The bill also authorizes dealers to absorb the sales and use tax on all other items sold during the same time period and thereby relieve the purchasers of the obligation to pay such tax.  Dealers who absorb such taxes are liable for payment of the same to the Tax Commissioner.   View Full Text »