Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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235.0000 FEDERAL TAXES—Regulation 1617

Annotation 235.0040

235.0040 Federal Excise Tax. Section 4051 of the Internal Revenue Code imposes a tax on the first retail sale of certain items of tangible personal property (generally truck and trailer bodies and chassis of a kind used for highway transportation). The tax imposed under that section is not included in gross receipts subject to California tax. 2/18/94.