Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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G

295.0000 GROSS RECEIPTS

Annotation 295.1040

(d) CONSIDERATION OTHER THAN MONEY

295.1040 Contest Points. If employee contest points are redeemable in merchandise, transfers of merchandise to employees constitute sales and are taxable. If an option exists under which points can alternatively be redeemed in cash, no sales tax applies if such option is exercised. 9/8/69.