10 LC 18
9151S
The
House Committee on Ways and Means offers the following substitute to HB
347:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-8-2 of the Official Code of Georgia Annotated, relating to
definitions regarding sales and use taxes, so as to change the definition of
sales price for purposes of such tax; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-8-2 of the Official Code of Georgia Annotated, relating to
definitions regarding sales and use taxes, is amended by revising paragraph (9)
as follows:
"(9)(A)
'Sales price' means the total amount valued in money, whether paid in money or
otherwise, for which tangible personal property or services are
sold,
including, but not limited to, any services that are a part of the sale and any
amount for which credit is given to the purchaser by the seller without any
deduction from the total amount for the cost of the property sold, the cost of
materials used, labor or service costs, losses, or any other expenses of any
kind.
(B)
'Sales price'
does
shall
not include:
(i)
Cash discounts allowed and taken on sales;
(ii)
The amount charged for labor or services rendered in installing, applying,
remodeling, or repairing property sold;
or
(iii)
Finance charges, carrying charges, service charges, or interest from credit
extended on sales of tangible personal property under conditional sale contracts
or other conditional contracts providing for deferred payments of the purchase
price;
or
(iv)
An amount for the reimbursement of ad valorem taxes on leased or rented
equipment of which ad valorem taxes are paid by the lessor of such equipment,
but an equivalent amount is charged to the lessee of such equipment. Such
equivalent amount shall not be deemed to be part of the total gross lease or
rental proceeds upon which sales and use tax would be due and
payable."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.