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2005 SESSION

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SB 708 Retail Sales & Use Tax; reduction of rate on food purchased for human consumption, effective date.

Introduced by: John H. Chichester | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Sales and use taxes, food purchased for human consumption.  Provides that the retail sales and use tax on food purchased for human consumption shall be imposed at a rate of 2.5 percent on and after July 1, 2005 (1.5 percent state and 1 percent local). Current law provides that the sales and use tax on food shall be imposed at a rate of 3.5 percent beginning July 1, 2005; 3 percent beginning July 1, 2006; and 2.5 percent beginning July 1, 2007. The bill accelerates the tax relief. Identical to HB 1638.


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