Introduced Version
HOUSE BILL No. 1039
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DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-2.5-5-43.
Synopsis: Sales tax holiday. Provides a sales tax exemption for any
item purchased at retail with a sales price of $2,500 or less during a
two day period each year beginning on the second Saturday of August.
Effective: April 1, 2008 (retroactive).
January 8, 2008, read first time and referred to Committee on Ways and Means.
Introduced
Second Regular Session 115th General Assembly (2008)
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HOUSE BILL No. 1039
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-2.5-5-43; (08)IN1039.1.1. -->
SECTION 1. IC 6-2.5-5-43 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
APRIL 1, 2008 (RETROACTIVE)]: Sec. 43. (a) As used in this
section, "sales tax holiday" means the two (2) day period:
(1) beginning at 12:01 a.m. of the second Saturday of each
August; and
(2) ending at 11:59 p.m. of the following Sunday.
(b) During each sales tax holiday, an item of tangible personal
property sold in a retail transaction is exempt from the state gross
retail tax if the sales price of the item does not exceed two thousand
five hundred dollars ($2,500).