SB1370 is a bill that aims to support young entrepreneurs by exempting them from certain licensing and tax requirements. The bill prohibits municipalities and counties from requiring any type of license or permit for businesses that are operated occasionally by individuals under 19 years of age. Additionally, it exempts these young business owners from the requirement to obtain a Transaction Privilege Tax (TPT) license and pay TPT, use tax, and local excise taxes if their business's gross proceeds of sales or gross income is less than $10,000 per calendar year. The bill has been amended by the House of Representatives to apply these exemptions to individuals under 19 years of age, rather than under 18 or those who have not graduated from high school, and includes technical changes. The bill will become effective on the general effective date.

Statutes affected:
Introduced Version: 9-500.50, 11-269.29, 42-5045
Senate Engrossed Version: 9-500.50, 11-269.29, 42-5045
House Engrossed Version: 9-500.50, 11-269.29, 42-5045
Chaptered Version: 9-500.50, 11-269.29, 42-5045