SB 170: Transfer of Tax Liability
GENERAL BILL by Altman
Transfer of Tax Liability; Revising provisions relating to a tax liability when a person transfers or quits a business; providing that the transfer of the assets of a business or stock of goods of a business under certain circumstances is considered a transfer of the business; requiring the Department of Revenue to provide certain notification to a business before a circuit court temporarily enjoins business activity by that business; providing that transferees of the business are liable for certain taxes unless specified conditions are met; requiring the department to conduct certain audits relating to the tax liability of transferors and transferees of a business within a specified time period; requiring certain notification by the Department of Revenue to a transferee before a circuit court enjoins business activity in an action brought by the Department of Legal Affairs seeking an injunction, etc.
Senate Committee References: Community Affairs (CA) , Commerce and Tourism (CM) , Budget Subcommittee on Finance and Tax (BFT)
Last Action: 03/06/2012 Laid on Table, companion bill(s) passed, see HB 103 (Ch. 2012-55) -SJ 876
Effective Date: upon becoming a law
Bill History
| Date | Chamber | Action |
|---|---|---|
| 08/29/2011 | Senate | • Filed |
| 09/08/2011 | Senate | • Referred to Community Affairs; Commerce and Tourism; Budget -SJ 21 |
| 09/26/2011 | Senate | • On Committee agenda-- Community Affairs, 10/04/11, 8:30 am, 412 Knott Building |
| 10/04/2011 | Senate | • Favorable by Community Affairs; YEAS 5 NAYS 0 -SJ 110 • Now in Commerce and Tourism -SJ 110 |
| 12/21/2011 | Senate | • On Committee agenda-- Commerce and Tourism, 01/09/12, 3:15 pm, 401 Senate Office Building |
| 01/09/2012 | Senate | • Favorable by Commerce and Tourism; YEAS 6 NAYS 0 -SJ 110 |
| 01/10/2012 | Senate | • Now in Budget -SJ 110 • Introduced -SJ 21 |
| 01/11/2012 | Senate | • Subreferred to Budget Subcommittee on Finance and Tax -SJ 160 • Now in Budget Subcommittee on Finance and Tax |
| 01/19/2012 | Senate | • On Committee agenda-- Budget Subcommittee on Finance and Tax, 01/24/12, 1:00 pm, 301 Senate Office Building |
| 01/24/2012 | Senate | • Favorable by Budget Subcommittee on Finance and Tax; YEAS 5 NAYS 0 -SJ 279 |
| 01/25/2012 | Senate | • Now in Budget -SJ 279 |
| 03/01/2012 | Senate | • Withdrawn from Budget -SJ 726 • Placed on Calendar, on 2nd reading |
| 03/02/2012 | Senate | • Placed on Special Order Calendar, 03/06/12 |
| 03/06/2012 | Senate | • Read 2nd time -SJ 875 • Substituted HB 103 -SJ 876 • Laid on Table, companion bill(s) passed, see HB 103 (Ch. 2012-55) -SJ 876 |
