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Committee approves raising vendor compensation for sales-tax collections to 3% of first $10,000
Summary
A committee approved a substitute to raise vendor compensation for remitting sales tax collections, increasing the 3% retention threshold from the first $3,000 to the first $10,000 and keeping the 0.5% rate for amounts above that threshold; the change is recorded as beginning Jan. 26 in the transcript.
A House committee approved a substitute to House Bill 439 that raises vendor compensation for collecting and remitting state sales tax, increasing the 3% retention threshold from the first $3,000 to the first $10,000 and retaining a one-half of 1 percent retention on collections above that level.
The bill sponsor (unnamed) said the change implements a key recommendation from a 2024 legislative study on credit-card fees…
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