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BTLG Table of Contents > Sales and Use Tax Annotations > B > 130.0000 Bad Debts > Annotation 130.0060
B
130.0060 Assignment of Notes and Accounts. A retailer who assigns an account or note receivable with recourse, and is required to pay it off, becomes a creditor as to the amount so paid by subrogation. As long as the accounts or notes represented the sale of goods by the retailer on which tax was paid, the retailer is entitled to a bad debt loss. The account or notes become worthless in his hands at the time he is required to pay his assignee. 6/25/65.
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