A Snapshot of Legislation Moving through Sacramento
AB 2031 (Dahle) - Provides relief for certain retailers who must collect the Lumber Products Assessment (LPA) by excluding those who sell less than $25,000 in qualifying products annually. LPA is a 1 percent tax on purchases of lumber products and engineered wood products.
This bill provides a much needed break for smaller retailers who sell lumber products many of which cannot afford to remain in business if they are required to upgrade computer systems and inventory practices. Also saves money for the State Board of Equalization, by reallocating the money spent collecting from these small… Read More