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HB 0409 - Ad valorem tax; freeport exemption; change a definition

Tracking Level: Monitor
Sponsor: Martin,Charles 47th
Last Action: 2/17/2009 - House Second Readers
House Committee: W&M
Assigned To:
Finance - TaxationNext Bill

Staff Analysis of the Legislation

SUMMARY:

            This bill would amend Code Section 48-5-48.2 of O.C.G.A. to add a definition for “finished goods,” as “goods, wares, and merchandise of every character and kind but shall not include unrecovered, unextracted or unsevered natural resources or raw materials or goods in the process of manufacture or production or the stock in trade of a retailer.”

 

NOTE:

            This bill would extend Freeport to retail stores’ inventories.


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text