Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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130.0000 BAD DEBTS—Regulation 1642

Annotation 130.0040

130.0040 Accounts Receivable—Purchase of. The allowance of a bad debt credit to reduce a taxpayer's liability for unpaid sales and use tax is not permissible if the losses on worthless accounts is suffered by a party other than the taxpayer. The purchaser of accounts receivable is not allowed to take a bad debt loss on accounts he cannot collect. 1/8/65.