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Increase Vendor Fee For Collecting State Sales Tax

Concerning an increase in the amount of sales tax revenue that may be retained by a retailer to cover the retailer's expense in collecting and remitting the tax.
2016 Regular Session
Fiscal Policy & Taxes
Bill Summary

A retailer that collects sales tax is currently allowed to retain 3 1/3% of the tax reported to cover the expense of collecting and remitting the tax. This amount is know as the 'vendor's fee'. The bill increases this amount gradually over a period of 5 years until it equals 5 1/2% of the tax reported.

(Note: This summary applies to this bill as introduced and does not reflect any amendments that were subsequently adopted.)




Bill Text

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The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details