Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Metal Recycling News March 20, 2019 01:00:12 PM

Kansas' Metal Theft Reduction Bill Proposes Excise Tax on Scrap Metal

Paul Ploumis
ScrapMonster Author
The excise tax and registration charges will be used to fund a scrap metal database.

Kansas' Metal Theft Reduction Bill Proposes Excise Tax on Scrap Metal

SEATTLE (Scrap Monster): Kansas is considering a bill which will introduce tougher laws to curb rising incidents of scrap metal thefts. The Senate Bill No. 219 was introduced by Kansas lawmakers during late-February this year.

The bill proposes to introduce excise tax on scrap metal sales. The tax shall be applicable to scrap metal purchases by dealers. The purchases less than 100 pounds of scrap metal will be exempted from the tax. An excise tax of $0.50 per ton will be imposed on purchases greater than 100 pounds and less than one ton of scrap metal. Also, purchases exceeding one ton of scrap metal will be imposed a tax of $1.0 per ton.

Effective Jan 1, 2020, each registration for a scrap metal dealer to purchase regulated scrap metal shall be accompanied by a fee of not more than $750, as prescribed by the attorney general. The registrations shall be issued for a period of one year only. Also, any registration issued under the act shall not be transferable.

The excise tax and registration charges will be used to fund a scrap metal database, which will be maintained by the Kansas Bureau of Investigation.

All scrap metal dealers are required to record every transaction involving scrap metal purchases. The records must be maintained for a period required by the secretary. Also, dealers are required to make the records available for inspection and audit upon request by the secretary.

The bill gives complete jurisdiction and authority to the attorney general over all matters with regards to implementation, administration and enforcement of the provisions of the scrap metal theft reduction act.

×

Quick Search

Advanced Search