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SB20-099

Thresholds For Sales Tax Collection Requirements

Concerning the dollar thresholds in place for certain retailers' sales tax collection requirements.
Session:
2020 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

The bill changes the dollar threshold for economic nexus for purposes of retail sales made by retailers without physical presence in the state from $100,000 to $200,000.

Current law temporarily allows small retailers with physical presence in the state that have retail sales of $100,000 or less to source sales to the business' location regardless of where the purchaser receives the tangible personal property or service, thus providing an exception to the sales tax sourcing rule. The bill changes this threshold to $200,000 or less in retail sales and makes the exception permanent.
(Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. B. Rankin
Rep. P. Will

Sponsor

Co-sponsor

COVID-19 Resources
School Finance Poverty Study RFP 2021 (submit by 10 a.m. 8/6/2021)
Solicitation for Members for the Legislative Task Force Concerning Tax Policy (submit by July 27 12:00 p.m.)
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