SB 777
Modifies provisions relating to sales taxes
Sponsor:
LR Number:
2872S.02I
Last Action:
1/9/2024 - Second Read and Referred S Economic Development and Tax Policy Committee
Journal Page:
Title:
Effective Date:
August 28, 2024

Current Bill Summary

SB 777 - 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, and authorizes political subdivisions to exempt food from local sales taxes. (Section 144.014)

This provision is substantially similar to HB 1418 (2024), HB 1464 (2024), HB 2174 (2024), SCS/SB 161 (2023), 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 2401 (2024), HB 2815 (2024), HB 2887 (2024), SCS/HCS/HB 154 (2023), 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 28.125% of the revenue derived from the 4% state sales tax rate shall be deposited in the School District Trust Fund. (Section 144.020)

JOSH NORBERG

Amendments

No Amendments Found.