California Senate Bill SB1412 Introduced / Bill

 BILL NUMBER: SB 1412INTRODUCED BILL TEXT INTRODUCED BY Senator Blakeslee FEBRUARY 24, 2012 An act to amend Section 6006.6 of the Revenue and Taxation Code, relating to taxation. LEGISLATIVE COUNSEL'S DIGEST SB 1412, as introduced, Blakeslee. Sales and use taxes. Existing sales and use tax laws impose a tax on retailers measured by the gross receipts from the sale of tangible personal property sold at retail in this state, or on the storage, use, or other consumption in this state of tangible personal property purchased from a retailer for storage, use, or other consumption in this state. Existing law provides that the tax on a sale completed at an auction will be computed according to the amount of the successful bid. This bill would make technical, nonsubstantive changes to these provisions. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 6006.6 of the Revenue and Taxation Code is amended to read: 6006.6. "Sale" includes any sale at an auction in respect to tangible personal property  which   that  is sold to a successful bidder at the auction upon an agreement or understanding at the time of the sale that the property involved either will not be delivered to the successful bidder or that any amount which   that  he  or she  may pay for the property pursuant to the sale will be returned to him  or her  . The tax shall be computed in such case upon the amount of the successful bid.