Bill Text: IN SB0144 | 2012 | Regular Session | Enrolled
Bill Title: Provides an exemption from the state gross retail tax for tangible personal property acquired for the exclusive purpose of complying with the state tobacco tax laws.
Spectrum: Bipartisan Bill
Status: (Enrolled - Dead) 2012-03-20 - Signed by the Governor [SB0144 Detail]
Download: Indiana-2012-SB0144-Enrolled.html
Second Regular Session 117th General Assembly (2012)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
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SENATE ENROLLED ACT No. 144
AN ACT to amend the Indiana Code concerning taxation.
Be it enacted by the General Assembly of the State of Indiana:
SECTION 1. IC 6-2.5-5-45 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2012]: Sec. 45. Transactions involving tangible personal property
(including excise tax meter machines and related accessories, such
as re-packers, cutters, and supplies) are exempt from the state
gross retail tax if the property is acquired:
(1) by a person that is required to affix excise tax stamps under IC 6-7; and
(2) for the exclusive purpose of complying with IC 6-7.
SECTION 2. IC 6-7-2-6 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2012]: Sec. 6. As used in this chapter, "wholesale price" means the net price shown on an invoice and at which the manufacturer of the tobacco products sells tobacco products to distributors, excluding any discount or other reduction that is not shown on the invoice.
SEA 144
Figure
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(1) by a person that is required to affix excise tax stamps under IC 6-7; and
(2) for the exclusive purpose of complying with IC 6-7.
SECTION 2. IC 6-7-2-6 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2012]: Sec. 6. As used in this chapter, "wholesale price" means the net price shown on an invoice and at which the manufacturer of the tobacco products sells tobacco products to distributors, excluding any discount or other reduction that is not shown on the invoice.
SEA 144
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