HB 103: Transfer of Tax Liability
GENERAL BILL by Wood
Transfer of Tax Liability; Revises provisions relating to tax liability when person transfers or quits business; provides transfer of assets of business or stock of goods of business is considered transfer of business; requires DOR to notify business before circuit court temporarily enjoins business activity; provides liability for certain taxes unless specified conditions are met; requires department to conduct certain audits; requires DOR to notify transferee before circuit court enjoins business activity; specifies that transferor & transferee of assets of business are jointly & severally liable up to maximum amount; specifies maximum liability of transferee; provides methods for calculating fair market value or total purchase price of specified business transfers to determine maximum tax liability of transferees; excludes transferees from tax liability when transfer consists only of specified assets; authorizes DOR to provide tax information to transferee against whom tax liability is being asserted; repeals provisions relating to tax liability & criminal liability of dealers of communications services who make certain transfers related to communications services business; repeals provisions relating to dealer's tax liability & criminal liability for sales tax when business transferred.
Last Action: 04/07/2012 Chapter No. 2012-55
Effective Date: April 6, 2012
Bill History
| Date | Chamber | Action |
|---|---|---|
| 08/25/2011 | House | • Filed |
| 09/15/2011 | House | • Referred to Civil Justice Subcommittee; Economic Affairs Committee; Finance and Tax Committee -HJ 14 |
| 10/11/2011 | House | • On Committee agenda-- Civil Justice Subcommittee, 10/18/11, 1:30 pm, 404 HOB |
| 10/18/2011 | House | • Favorable by Civil Justice Subcommittee; YEAS 14 NAYS 0 -HJ 171 • Now in Economic Affairs Committee -HJ 171 |
| 11/08/2011 | House | • On Committee agenda-- Economic Affairs Committee, 11/15/11, 4:00 pm, Reed Hall |
| 11/15/2011 | House | • Favorable by Economic Affairs Committee; YEAS 18 NAYS 0 -HJ 172 • Now in Finance and Tax Committee -HJ 172 |
| 11/29/2011 | House | • On Committee agenda-- Finance and Tax Committee, 12/06/11, 11:00 am, Morris Hall |
| 12/06/2011 | House | • Favorable by- Finance and Tax Committee; YEAS 22 NAYS 0 -HJ 175 • Placed on Calendar -HJ 175 |
| 01/10/2012 | House | • Introduced -HJ 14 |
| 01/30/2012 | House | • Placed on Special Order Calendar, 02/02/12 |
| 02/02/2012 | House | • Read 2nd time -HJ 327 • Placed on 3rd reading |
| 02/03/2012 | House | • Read 3rd time -HJ 469 • Passed; YEAS 115 NAYS 0 -HJ 469 |
| 02/08/2012 | Senate | • In Messages |
| 03/02/2012 | Senate | • Referred to Community Affairs; Commerce and Tourism; Budget Subcommittee on Finance and Tax; Budget -SJ 812 |
| 03/05/2012 | Senate | • Received -SJ 812 |
| 03/06/2012 | Senate | • Withdrawn from Community Affairs; Commerce and Tourism; Budget Subcommittee on Finance and Tax; Budget -SJ 876 • Placed on Calendar, on 2nd reading -SJ 876 • Substituted for SB 170 -SJ 876 • Read 2nd time -SJ 876 • Placed on 3rd reading |
| 03/07/2012 | Senate | • Read 3rd time -SJ 908 • Passed; YEAS 36 NAYS 1 -SJ 909 |
| 03/07/2012 | House | • Ordered enrolled -HJ 1178 |
| 03/30/2012 | • Signed by Officers and presented to Governor | |
| 04/06/2012 | • Approved by Governor | |
| 04/07/2012 | • Chapter No. 2012-55 |
