Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Sales and Use Tax Annotations
200.0000 CREDIT SALES AND REPOSSESSIONS—Regulation 1641
200.0120 Installment Payment Plan. Equipment is sold on an installment payment plan. The purchaser is unable to keep up his payments and lets the equipment go to another customer who will make the balance of the payments.
Since the full sales price has not been credited or refunded to the original purchaser, no deduction is allowable based upon inability to make full payment. 6/13/73. (Am. 2004–2).