Sales and Use Tax; accelerated payments. (SB746)
Introduced By
Sen. Glen Sturtevant (R-Midlothian)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Accelerated sales and use tax payments. Prohibits any requirement that a dealer remit accelerated sales and use tax payments, except as provided in a general appropriation act under the following circumstances: (i) if payments are required for dealers with sales of $15 million or less, such threshold may only be reduced by 10 percent the next year; (ii) if the Department of Taxation fails to notify dealers that accelerated payments are due at least nine months in advance, no penalty or interest may be assessed for late payments; and (iii) no penalty or interest may be assessed on a dealer subject to an accelerated payment due to a lowered threshold in the calendar year. If such accelerated payment is required in an appropriation act, a dealer may only be required to pay 90 percent of the dealer's sales and use tax liability for the previous June. The Department shall provide an online application for a dealer to apply for a hardship waiver. The bill prohibits requiring accelerated payments after June 30, 2020. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/10/2018 | Prefiled and ordered printed; offered 01/10/18 18103544D |
01/10/2018 | Referred to Committee on Finance |
01/20/2018 | Impact statement from TAX (SB746) |
01/23/2018 | Continued to 2019 in Finance (15-Y 0-N) (see vote tally) |
11/30/2018 | Left in Finance |