The taxation bill, SB 50, has passed the full House of Representatives by a vote of 93 yeas, 24 nays, and passed the full Senate by a vote of 27 yeas and 12 nays.
It is out of the legislature and headed to the Governor for his signature.
Bill Highlights:
- Enacts full Wayfair implementation and point of sale collection and remittance of sales tax on remote and market place retail sales.
- Uses funds collected to offset the projected 700% increase in the state unemployment compensation trust fund tax.
- Once the fund is replenished, provides for an ongoing 3.5% reduction in the business rent tax.
To learn more about the bill, click here.
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