HB 7125 — Exemptions from Local Business Taxes
by Economic Affairs Committee and Rep. K. Roberson and others (CS/SB 770 by Budget Subcommittee on Finance and Tax and Senator Hays)
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Community Affairs Committee (CA)
This bill specifies that an individual licensed and operating as a broker associate or sales associate is not required to apply for an exemption from a local business tax or take certain actions relating to a local business tax. The bill prohibits a local governing authority from holding such exempt individual liable for the failure of a principal or employer to comply with certain obligations related to a local business tax. The bill also prohibits a local governing authority from requiring a principal or employer to provide personal or contact information for such exempt individuals in order to obtain a local business tax receipt.
If approved by the Governor, these provisions take effect October 1, 2012.
Vote: Senate 33-7; House 105-9