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House Bill 1316

House Bill (S)

DIGEST

Sales taxes and tax credits. Provides that for purposes of the sales tax, a person is a retail merchant making a retail transaction when the person sells, rents, leases, or licenses for consideration the right to use prewritten computer software delivered electronically. Specifies, however, that a transaction in which a user purchases, rents, leases, or licenses the right to remotely access prewritten computer software: (1) is not considered to be a transaction in which prewritten computer software is delivered electronically; and (2) does not constitute a retail transaction (and is therefore not subject to sales tax). Provides a sales tax Sales taxes and tax credits. Provides that for purposes of the sales tax, a person is a retail merchant making a retail transaction when the person sells, rents, leases, or licenses for consideration the right to use prewritten computer software delivered electronically. Specifies, however, that a transaction in which a user purchases, rents, leases, or licenses the right to remotely access prewritten computer software: (1) is not considered to be a transaction in which prewritten computer software is delivered electronically; and (2) does not constitute a retail transaction (and is therefore not subject to sales tax). Provides a sales tax exemption for sales of the following property by a public library (or a charitable organization formed to support a public library): (1) Items in the library's circulated and publicly available collections, including items from the library's holdings. (2) Items that would typically be included in the library's circulated and publicly available collections and that are donated by individuals or organizations to a public library (or to a charitable organization formed to support a public library). Provides that a taxpayer that is entitled to one or more specified economic development tax credits for the 2017 taxable year may elect to carry forward all or any portion of those credits and instead apply the tax credits in the 2018 taxable year. Requires a taxpayer to make an election in order to carry forward the tax credit. ... View more