SB 777 - Moon, Mike
Modifies provisions relating to sales taxes
Bill Details
Sponsor
LR Number
2872S.02I
Title
SB 777
House Handler
N/A
Journal Page
Effective Date
August 28, 2024
Committee
Current Status
Second Read and Referred S Economic Development and Tax Policy Committee
Quick Links
Amendments
No amendments available
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