Clarifying that the basis for business and occupation tax for real estate firms is the commission amount received by each real estate firm involved in a transaction.
Summary
Exempts real estate commissions that are shared among more than two real estate firms from the business and occupation tax.
From the House Bill Report (SB 5083), written by the Legislature's nonpartisan staff. Read the full report ↗
Enacted (partial veto)Enacted with partial veto · Chapter 322, Laws of 2011
AN ACT Relating to clarifying that the basis for business and occupation tax for real estate firms is the commission amount received by each real estate firm involved in a transaction;