Tax rates
Sec. 2. (a) The state gross retail tax is measured by the gross retail
income received by a retail merchant in a retail unitary transaction
and is imposed at the following rates:
STATE
GROSS RETAIL INCOME
GROSS
FROM THE
RETAIL
RETAIL UNITARY
TAX
TRANSACTION
$
less than $0.09
$ 0.01 at least $ 0.09 but less than $0.25
$ 0.02 at least $ 0.25 but less than $0.42
$ 0.03 at least $ 0.42 but less than $0.59
$ 0.04 at least $ 0.59 but less than $0.75
$ 0.05 at least $ 0.75 but less than $0.92
$ 0.06 at least $ 0.92 but less than $1.09
On a retail unitary transaction in which the gross retail income
received by the retail merchant is one dollar and nine cents ($1.09)
or more, the state gross retail tax is six percent (6%) of that gross
retail income.
0
(b) If the tax, computed under subsection (a), results in a fraction
of one-half cent ($0.005) or more, the amount of the tax shall be
rounded to the next additional cent.
As added by Acts 1980, P.L.52, SEC.1. Amended by P.L.2-1982(ss),
SEC.2; P.L.192-2002(ss), SEC.49.
Last modified: May 28, 2006