Bill
LC 1001
Overview: Bill Number: LC 1001, Title: Generally revise laws related to contractor gross receipts tax, Status: (LC) Draft Died in Process, Introduced: November 11, 2024Purpose and
Overview: Bill Number: LC 1001, Title: Generally revise laws related to contractor gross receipts tax, Status: (LC) Draft Died in Process, Introduced: November 11, 2024
Purpose and Intent: The purpose of this bill is to revise the state's laws regarding the contractor gross receipts tax. The goal is to provide more clarity and consistency in how the tax is applied.
Key Provisions:
- Clarifies the definition of "contractor" for the purposes of the gross receipts tax
- Establishes a standardized formula for calculating the contractor gross receipts tax
- Requires the state to provide guidance and resources to help contractors comply with the tax
Affected Parties and Impacts:
- Contractors who would be subject to the gross receipts tax and need to comply with the revised requirements
- State tax authorities responsible for administering and enforcing the contractor gross receipts tax
Procedural and Timeline Considerations:
- This bill was in the draft (LC) stage and did not advance further in the legislative process before the session ended.
Compiled from official sources — confirm details with the bill’s official record.
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