General Assembly Raised Bill No. 1057
January Session, 2017 LCO No. 6283
*06283_______FIN*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
(FIN)
General Assembly
Raised Bill No. 1057
January Session, 2017
LCO No. 6283
*06283_______FIN*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
(FIN)
AN ACT AUTHORIZING AGREEMENTS TO ESTABLISH AN AUTOMATED SALES TAX COLLECTION PROCESS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective from passage) The Commissioner of Revenue Services may enter into agreements with electronic payment processing companies to establish an automated sales tax collection process under which such companies segregate the amount of sales tax, if any, of each payment transaction processed by such company and such amount is remitted automatically to the state. The commissioner may negotiate, as part of any such agreement, a percentage of such sales tax to be retained by the electronic payment processing company.
This act shall take effect as follows and shall amend the following sections:
Section 1 from passage New section
This act shall take effect as follows and shall amend the following sections:
Section 1
from passage
New section
Statement of Purpose:
To authorize the Commissioner of Revenue Services to enter into agreements with electronic payment processing companies to establish an automated sales tax collection process.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]