Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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C

190.0000 CONSTRUCTION CONTRACTORS—Regulation 1521

Annotation 190.2837.010

(e) FIXED-PRICE CONTRACTS

190.2837.010 Fixed Price. A construction contract containing the following wording is a fixed price contract for purposes of section 6376:

"SCHEDULE OF PRICES. All applicable sales taxes, State and/or Federal, and any other special taxes, patent rights, or royalties are included in the prices quoted in this Proposal."

The contractor may purchase materials for use in this contract, if it was entered into before Nov. 8, 1989, without payment of the ¼% increase in the state tax rate effective December 1, 1989, by issuing an exemption certificate in the manner provided by Regulation 1667, and may sell fixtures under this contract at the prior rate. 4/23/90.

(Note: Section 6376 was repealed effective January 1, 1992.)