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Glossary of Legislative Terms

CS/SB 1384: Transfer of Tax Liability

GENERAL BILL by Commerce and Tourism ; Altman

Transfer of Tax Liability; Revises provisions relating to tax liability when a person transfers or quits a business. Provides 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. Provides that transferees of the business are liable for certain taxes unless specified conditions are met. Provides methods for calculating the fair market value or total purchase price of specified business transfers to determine maximum tax liability of transferees, etc.

Effective Date: 7/1/2011
 Last Action: 5/7/2011 Senate - Died on Calendar
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Judiciary (JU)

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  • Bill History

    Date Chamber Action
    2/24/2011 Senate • Filed
    3/7/2011 Senate • Referred to Commerce and Tourism; Judiciary; Budget -SJ 103
    3/8/2011 Senate • Introduced -SJ 103
    4/7/2011 Senate • On Committee agenda-- Commerce and Tourism, 04/12/11, 9:15 am, 401 Senate Office Building
    4/12/2011 Senate • CS by Commerce and Tourism; YEAS 6 NAYS 0 -SJ 470
    4/14/2011 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    4/15/2011 Senate • Now in Judiciary -SJ 470
    4/20/2011 Senate • On Committee agenda-- Judiciary, 04/25/11, 9:45 am, 110 Senate Office Building
    4/25/2011 Senate • Favorable by Judiciary; YEAS 7 NAYS 0 -SJ 468
    • Now in Budget -SJ 468
    4/26/2011 Senate • CS by Commerce and Tourism read 1st time -SJ 485
    5/3/2011 Senate • Withdrawn from Budget -SJ 725
    • Placed on Calendar, on 2nd reading
    5/5/2011 Senate • Placed on Special Order Calendar, 05/05/11
    • Placed on Special Order Calendar, 05/06/11
    5/7/2011 Senate • Indefinitely postponed and withdrawn from consideration
    • Died on Calendar

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  • CS/SB 1384, Committee Substitute 1 (Current Bill Version) Posted 4/14/2011 at 1:44 PM

    Bill Text:   Web Page | PDF
    Analyses:   Judiciary (Pre-Meeting) 4/22/2011 (pdf)
    Judiciary (Post-Meeting) 4/25/2011 (pdf)

    Related Bills (2)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 907 (e1) Transfer of Tax Liabillity Wood Similar Last Action: 5/7/2011 S Died in Commerce and Tourism
    Location: In committee/council (CM)     		Track This Bill
    S 2044 Tax Administration Budget Subcommittee on Finance and Tax Compare Last Action: 5/7/2011 S Died in Budget Subcommittee on Finance and Tax, companion bill(s) passed, see CS/HB 641 (Ch. 2011-86), CS/CS/HB 7005 (Ch. 2011-235), SB 2156 (Ch. 2011-142)
    Location: In committee/council (BFT)     		Track This Bill

    Floor Amendments (3)

    Amendment Sponsor Filed Last Floor Action Format
    361822 - Amendment
    Before line 43 insert:     		Ring 5/6/2011
    10:00 AM
    (Late Filed)     		Senate: Withdrawn
    5/6/2011     		Web Page
    PDF
    376922 - Amendment
    Before line 43 insert:     		Ring 5/6/2011
    12:28 PM
    (Late Filed)     		Senate: Withdrawn
    5/6/2011     		Web Page
    PDF
    191582 - Amendment
    Delete lines 61 - 214 and insert:     		Altman 5/3/2011
    4:48 PM     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/25/2011 9:45 AM Judiciary 7 Yeas - 0 Nays

    Citations - Statutes (4)

    Citation Catchline Location in Bill Location In Bill Help
    202.31 Sale of business; liability for tax; procedures; penalty for violations. Page 8 (pdf)
    212.10 Sale of business; liability for tax, procedure, penalty for violation. Page 8 (pdf)
    213.053 Confidentiality and information sharing. Page 8 (pdf)
    213.758 Transfer of tax liabilities. Page 2 (pdf)

    Citations - Chapter Law (1)

    Chapter Law Section Amended Location in Bill Location In Bill Help
    2010-280 Page 8 (pdf)

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  • SB 1384, Original Filed Version Posted 2/24/2011 at 10:53 AM

    Bill Text:   Web Page | PDF
    Analyses:   Commerce and Tourism (Pre-Meeting) 4/11/2011 (pdf)
    Commerce and Tourism (Post-Meeting) 4/19/2011 (pdf)

    Related Bills (2)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 907 (c2) Transfer of Tax Liability Wood Compare Last Action: 5/7/2011 S Died in Commerce and Tourism
    Location: In committee/council (CM)     		Track This Bill
    S 2044 Tax Administration Budget Subcommittee on Finance and Tax Compare Last Action: 5/7/2011 S Died in Budget Subcommittee on Finance and Tax, companion bill(s) passed, see CS/HB 641 (Ch. 2011-86), CS/CS/HB 7005 (Ch. 2011-235), SB 2156 (Ch. 2011-142)
    Location: In committee/council (BFT)     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    379386 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Commerce and Tourism
    (Dockery)     		4/11/2011
    9:58 AM     		Replaced by Committee Substitute
    4/12/2011     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/12/2011 9:15 AM Commerce and Tourism 6 Yeas - 0 Nays

    Citations - Statutes (4)

    Citation Catchline Location in Bill Location In Bill Help
    202.31 Sale of business; liability for tax; procedures; penalty for violations. Page 8 (pdf)
    212.10 Sale of business; liability for tax, procedure, penalty for violation. Page 8 (pdf)
    213.053 Confidentiality and information sharing. Page 8 (pdf)
    213.758 Transfer of tax liabilities. Page 2 (pdf)

    Citations - Chapter Law (1)

    Chapter Law Section Amended Location in Bill Location In Bill Help
    2010-280 Page 8 (pdf)

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