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HB16-1087

Increase Vendor Fee For Collecting State Sales Tax

Concerning an increase in the amount of sales tax revenue that may be retained by a retailer to cover the retailer's expense in collecting and remitting the tax.
Session:
2016 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

A retailer that collects sales tax is currently allowed to retain 3 1/3% of the tax reported to cover the expense of collecting and remitting the tax. This amount is know as the 'vendor's fee'. The bill increases this amount gradually over a period of 5 years until it equals 5 1/2% of the tax reported.

(Note: This summary applies to this bill as introduced and does not reflect any amendments that were subsequently adopted.)

Status

Introduced
Lost

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Bill Text

COVID-19 Resources
NORTH ENTRANCE IS CURRENTLY CLOSED.  TO ENTER THE CAPITOL, USE THE SOUTH ENTRANCE, UNDER THE STAIRS, AT 14th AVENUE AND SHERMAN STREET.