SB 1062
Exempts the sale of food from sales tax
Sponsor:
LR Number:
3119S.01I
Last Action:
3/25/2024 - Hearing Conducted S Economic Development and Tax Policy Committee
Journal Page:
Title:
Effective Date:
August 28, 2024

Current Bill Summary

SB 1062 - Current law taxes retail sales of food, as defined in current law, at a rate of one percent. This act provides that retail sales of food shall be exempt from state sales taxes.

This provision is identical to SCS/SB 161 (2023) and to a provision in SCS/HCS/HB 154 (2023), and is substantially similar to HB 1418 (2024), HB 1464 (2024), HB 2174 (2024), HB 260 (2023), HB 452 (2023), HB 591 (2023), HB 896 (2023), HCS#2/HB 1992 (2022), HB 1817 (2022), and HB 2530 (2022), and to a provision in HB 2815 (2024), HB 2887 (2024), HB 377 (2023), HCS/HBs 876, 771, 676 & 551 (2023), HB 1136 (2023), HB 1779 (2022), and HB 2249 (2022).

This act also provides that, beginning on January 1, 2025, local sales taxes imposed on food shall annually be reduced in four equal increments over a period of four years. Beginning January 1, 2029, there shall be no local sales taxes imposed on food.

This act is identical to HB 2055 (2024) and HB 2273 (2024), and is substantially similar to a provision in HB 2401 (2024).

JOSH NORBERG

Amendments

No Amendments Found.