The bill seeks to enhance the tax law administered by the Department of Revenue through various amendments aimed at clarifying definitions and improving administrative efficiency without affecting state or local tax revenues. Key provisions include the introduction of a $5 fee on the retail sale of new replacement vehicle tires, which sellers must collect and remit to the Department. The bill also modifies the definition of "sale at retail" to encompass a broader range of services, including digital goods and advertising services, while providing specific exclusions. Additionally, it establishes a workforce education investment surcharge on advanced computing businesses, with a tiered rate structure, and clarifies tax implications for financial institutions and digital goods.

Further amendments address the taxation of digital goods and services, including exemptions for certain transactions and the introduction of a direct pay permit system for significant tax liabilities. The bill also revises estate tax laws concerning qualified family-owned business interests and updates deduction amounts based on the consumer price index. It specifies conditions under which additional estate taxes may be levied on qualified heirs and clarifies definitions related to agricultural land. Overall, the bill aims to modernize tax regulations, streamline tax administration, and ensure compliance in response to evolving economic sectors.

Statutes affected:
Original bill: 70A.205.405, 82.04.050, 82.04.060, 82.04.192, 82.04.4451, 82.08.010, 82.12.020, 82.08.9999, 46.17.324, 82.12.010, 82.12.0208, 82.32.023, 82.32.087, 82.32.730, 83.100.048