Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


A    B    C    D    E    F    G    H    I    J    L    M    N    O    P    R    S    T    U    V    W    X   

G

295.0000 GROSS RECEIPTS

Annotation 295.0860

(c) DISCOUNTS

295.0860 Bank Credit Plans. Retailer honoring a bank's credit cards may not deduct from gross receipts the 3% to 6% charge made by a bank for its service. The service charge is not a cash discount because it is an amount allowed someone other than the purchaser. 5/15/59.