HB22-1406
Qualified Retailer Retain Sales Tax
Concerning a temporary deduction from state net taxable sales for certain retailers in the state, and, in connection therewith, making an appropriation.
Session:
2022 Regular Session
Subject:
Bill Summary
Fiscal Policy & Taxes
The act renews for July 2022, August 2022, and September 2022, after a 10-month hiatus, a temporary deduction from state net taxable sales for qualifying retailers in the alcoholic beverages drinking places industry, the catering industry, the food service contractors industry, the mobile food services industry, the restaurant and other eating places industry and for retailers operating a hotel-operated restaurant, bar, or catering service in the state. The temporary deduction from state taxable sales for qualifying retailers is equal to the lesser of state net taxable sales or $70,000 for each month for which a deduction is allowed.
(Note: This summary applies to this bill as enacted.)