Bill > HB2162

This bill amends the Texas Tax Code to modify the definition of "occasional sale" with specific provisions related to firearms sales. The bill introduces a new definition for "firearm" based on federal law and makes several key changes to how occasional sales are classified. Under the new provisions, an occasional sale now includes a specific carve-out for firearm sales with distinct financial thresholds. While the existing law allowed individuals to sell personal property with total receipts not exceeding $3,000 per calendar year, the new bill creates a separate $6,000 limit specifically for firearm sales. The bill also adds a nuanced requirement that if an individual sells a firearm, they cannot employ a broker or factor to sell the property, except through an online auction. These changes aim to provide clearer guidelines for tax purposes on the sale of personal property, with particular attention to firearms transactions. The bill will take effect immediately if it receives a two-thirds vote in the Texas legislature, or on September 1, 2025, if it does not receive the required immediate voting support, and it does not retroactively affect tax liabilities accrued before its effective date.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB2162