| HP1054 LD 1504 |
First Regular Session - 123rd Legislature - Text: MS-Word, RTF or PDF |
LR 697 Item 3 |
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| Bill Tracking | Chamber Status | ||
Amend the amendment on page 3 in section 11 in paragraph A in subparagraph (4) by striking out all of division (b) (page 3, lines 36 to 38 in amendment) and inserting the following:
(b) The sale is to a person that purchases the assets for resale, lease or rental in the ordinary course of business or that purchases the assets for transfer to an affiliate, directly or through a series of transactions among affiliated entities, for resale, lease or rental by the affiliate in the ordinary course of business.
’Amend the amendment on page 3 by inserting after section 11 the following:
Amend the bill in section 17 in paragraph V in the first line (page 9, line 36 in L.D.) by striking out the following: " 2007" and inserting the following: ' 2006'
’summary
This amendment clarifies the provisions of the bill regarding the sales tax treatment of the sale of assets of a business and corrects a date.