HB 1575 Merchants’ capital tax; separate classification; retailers.

HB 1575 Merchants' capital tax; separate classification; retailers. Introduced by: Mark L. Cole (by request) | all patrons ... notes | add to my profiles SUMMARY AS INTRODUCED: Merchants' capital tax; separate classification; retailers. Provides that the merchants' capital of any retailer reported as inventory that is located in a structure that contains at least 100,000 square feet, with at least 100,000 square feet used solely to store such inventory, shall be considered a separate classification and may be taxed at a lower rate than other classifications of merchants' capital. Under current law, only merchants' capital of wholesalers meeting this description constitutes a separate class of property.