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2006 SESSION

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HB 532 Sales and use tax exemption; school supplies, clothing and footwear, and computers.

Introduced by: Harry J. Parrish | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Sales and use tax exemption; school supplies and clothing and footwear.  Provides a sales and use tax exemption, beginning in 2006, for certain school supplies, clothing and footwear purchased during a three-day period each year beginning on the first Friday in August. The exempt items are: each school supply item with a selling price of $20 or less and each article of clothing or footwear with a selling price of $100 or less.  The bill also authorizes dealers to absorb the sales and use tax on all other items sold during the same time period and thereby relieve the purchasers of the obligation to pay such tax. Dealers who absorb such taxes are liable for payment of the same to the Tax Commissioner.  The bill incorporates HB 12 (Jones, S.C.), HB 131 (Cosgrove), HB 484 (Frederick), HB 509 (Armstrong), HB 528 (Rust), HB 708 (Ware, O.), HB 1125 (Cline), and HB 1206 (Moran).

SUMMARY AS PASSED HOUSE:

Sales and use tax exemption; school supplies, clothing and footwear, and computers.  Provides a sales and use tax exemption, beginning in 2006, for certain school supplies, clothing and footwear, and computers purchased during a three-day period each year beginning on the first Friday in August. The exempt items are: each school supply item with a selling price of $100 or less, each article of clothing or footwear with a selling price of $100 or less, each computer system with a selling price of $1,500 or less, and each  computer or related peripheral equipment with a selling price of $500 or less. The bill also authorizes dealers to absorb the sales and use tax on all other items sold during the same time period and thereby relieve the purchasers of the obligation to pay such tax. Dealers who absorb such taxes are liable for payment of the same to the Tax Commissioner.  The bill incorporates HB 121 (Jones, S.C.), HB 131 (Cosgrove), HB 484 (Frederick), HB 509 (Armstrong), HB 528 (Rust), HB 708 (Ware, O.), HB 1125 (Cline), and HB 1206 (Moran).

SUMMARY AS INTRODUCED:

Sales and use tax exemption; school supplies, clothing and footwear, and computers.  Provides a sales and use tax exemption, beginning in 2006, for certain school supplies, clothing and footwear, and computers purchased during a three-day period each year beginning on the first Friday in August. The exempt items are: each school supply item with a selling price of $20 or less, each article of clothing or footwear with a selling price of $100 or less, and each  computer or related peripheral equipment with a selling price of $1,500 or less. The bill also authorizes dealers to absorb the sales and use tax on all other items sold during the same time period and thereby relieve the purchasers of the obligation to pay such tax. Dealers who absorb such taxes are liable for payment of the same to the Tax Commissioner.