SB484: Bill Text

LRB-4530/1

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2017 - 2018 LEGISLATURE

2017 Senate BILL 484

October 27, 2017 - Introduced by Senators Lasee, Olsen and Vukmir, cosponsored by Representatives Quinn, Horlacher, Jarchow, Petryk, Ripp and Tusler. Referred to Committee on Revenue, Financial Institutions and Rural Issues.

SB484,1,3 An Act to renumber and amend 77.51 (9) (e); and to create 77.51 (9) (e) 1. and 2. of the statutes; relating to: the sales and use tax exemption for personal farm property or household goods sold by auction on the Internet.

Analysis by the Legislative Reference Bureau

Current law provides a sales and use tax exemption for five or fewer auctions for the sale of personal farm property or household goods that are held by the same auctioneer at the same location during the year. This bill provides that the exemption applies to five or fever auction events that are the sale of such property or goods held by the same auctioneer at the same location during the year. Under the bill, an auction event is the total number of consecutive days for which property at that location is available for bidding, except that, with respect to an auction for which all or some of the bids may be submitted over the Internet, an auction event is the total number of consecutive days that winning bids are selected, not to exceed five days, regardless of whether the property being sold is at multiple locations.

Because this bill relates to an exemption from state or local taxes, it may be referred to the Joint Survey Committee on Tax Exemptions for a report to be printed as an appendix to the bill.

For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SB484,1 Section 1. 77.51 (9) (e) of the statutes is renumbered 77.51 (9) (e) (intro.) and amended to read:

SB484,2,12 77.51 (9) (e) (intro.) Five or fewer auctions auction events that are the sale of personal farm property or household goods and that are held by the same auctioneer at the same location during the year. For purposes of this paragraph, an auction event is the total number of consecutive days for which property at that location is available for bidding, except that, with respect to an auction for which all or some of the bids may be submitted over the Internet, an auction event is the total number of consecutive days that winning bids are selected, not to exceed 5 days, regardless of whether the property being sold is at multiple locations. In this paragraph, with respect to indoor locations, “location" means a building, except that in the case of a shopping center or a shopping mall “location" means a store. :

SB484,2 Section 2 . 77.51 (9) (e) 1. and 2. of the statutes are created to read:

SB484,2,16 77.51 (9) (e) 1. “Auctioneer” means a person, including an auction company as defined in s. 480.01 (2), that is licensed to conduct an auction under the laws of this state.

SB484,2,19 2. “Location” means the building or street address where the property to be auctioned is physically located at the time of the auction. With respect to a shopping center or shopping mall, “location” means a store.

SB484,3 Section 3. Effective date.

SB484,2,22 (1) This act takes effect on the first day of the 3rd month beginning after publication.

SB484,2,23 (End)