Amends TCA Title 4; Title 65 and Title 67.
ON MAY 1, 2019, THE HOUSE ADOPTED AMENDMENT #2 AND PASSED HOUSE BILL 605, AS AMENDED.<br /> <br /> AMENDMENT #2 rewrites this bill. Generally, present law imposes sales and use tax on the sales price of each item or article of tangible personal property when sold at retail and on the sale of interstate or international telecommunication services to businesses. This amendment specifies, for purposes of sales and use taxes, that "tangible personal property" does not include fiber-optic cable after it has become attached to a utility pole, building, or other structure or installed underground. This amendment deems such fiber-optic cable to be realty upon installation.<br /> <br /> This amendment deletes the present law excise tax credit for qualified broadband internet access equipment.<br /> <br />
ON MAY 1, 2019, THE HOUSE ADOPTED AMENDMENT #2 AND PASSED HOUSE BILL 605, AS AMENDED.<br /> <br /> AMENDMENT #2 rewrites this bill. Generally, present law imposes sales and use tax on the sales price of each item or article of tangible personal property when sold at retail and on the sale of interstate or international telecommunication services to businesses. This amendment specifies, for purposes of sales and use taxes, that "tangible personal property" does not include fiber-optic cable after it has become attached to a utility pole, building, or other structure or installed underground. This amendment deems such fiber-optic cable to be realty upon installation.<br /> <br /> This amendment deletes the present law excise tax credit for qualified broadband internet access equipment.<br /> <br />
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