Bill Status of HB0498 99th General Assembly
Short Description: ROTA-BAD DEBT
Rep. Anthony DeLuca, John Bradley, Barbara Flynn Currie, Dwight Kay, Arthur Turner, Ron Sandack, Ed Sullivan, Jaime M. Andrade, Jr., Robert Rita, Thaddeus Jones, Joe Sosnowski, Frank J. Mautino, Michael J. Zalewski, Carol Sente and Frances Ann Hurley
| 1/10/2017||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Retailers' Occupation Tax Act. Provides that a retailer is relieved from liability for any tax that becomes due and payable if the tax is represented by amounts that are found to be worthless or uncollectible, have been charged off in accordance with generally accepted accounting principles, and will be claimed as a deduction pursuant to Section 166 of the Internal Revenue Code. Provides for a deduction if the retailer had previously paid such a tax. Contains provisions concerning the payment of taxes on purchases made through a private-label credit card. Effective immediately.