The bill amends the General Sales Tax Act of 1933 by updating definitions and provisions related to sales tax. Key changes include the clarification of terms such as "person," "sale at retail," "gross proceeds," and "sales price." Notably, the definition of "person" now explicitly includes entities organized for profit or not, and the term "sales price" has been refined to specify what is included and excluded in the calculation of sales tax. The bill also introduces new provisions regarding delivery and installation charges, stating that these charges must be separately stated on invoices and that the Department of Treasury will cancel outstanding balances related to these charges for certain assessments issued before April 26, 2023.

Additionally, the bill specifies that the Department shall not issue new assessments for delivery and installation charges for any tax period before April 26, 2023, that is still open under the statute of limitations. The enactment of this bill is contingent upon the passage of Senate Bill No. 998 of the 103rd Legislature. Overall, the amendments aim to streamline the sales tax process and clarify the responsibilities of sellers and the Department of Treasury regarding tax assessments.

Statutes affected:
Senate Introduced Bill: 205.51