HomeMy Public PortalAboutM2003-07-14-LPFA_Sp02g
LYNWOOD PUBLIC FINANCE AUTIiORITY
SPECIAL MEETING
JULY 14, 2003
The Public Finance Authority of the City of Lynwood met in a Special Meeting at 11330
Bullis Road on the above date at 10:19 a.m.
President Pedroza presiding.
Members Byrd, Reyes, Richards, Rodriguez, and Pedroza answered the roll call.
also presen[ were Chief Administrative Officer Hempe, City Attorney Casso, Secretary
Hooper. and Treasurer Pygatt
Secretary Hooper announced that the agenda had been posted in accordance with the
Bro«n .Act.
PUBLIC ORAL COMMUNICATIONS
(Regarding agenda items only)
NONE
PUBLIC ORAL COMMUNICATIONS
NONE
Item #4: SB 103 -SALES AND USE TAXES
Currem laws within the State of California impose taxes on the sale or use of tangible
personal property in the State. The sales tax is imposed on retailers for the privilege of
,elling tangible personal property at retail stores in this state and is measured by the gross
receip[s of retailers derived from those sales. The use tax is imposed for the privilege of
u[ilizine [angible personal property.
The California Internet Tax Freedom Act prohibits taxation of sales through Intemet
access or On Line Computer Services. Thus, stores such as Amazon and many others
that are Internet only retailers are exempt from charging/paying sales taxes. However,
this excludes retailers who are actively engaged in business in Califomia.
It ~+as moved by Member Richards, seconded by Member Byrd and carried to receive
and the this item.
ADJOURNMENT
Hai ina no further discussion, it was moved by Vice President Rodriguez, seconded by
Presiden[ Pedroza and carried to adjourn the Special Council Meeting at 10:20 a.m.
F rnando Pedroza, Presiden
~ Andrea L. Hooper, Secretary