Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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320.0000 INTEREST AND PENALTIES—Regulation 1703

Annotation 320.0049

320.0049 Date of Interest Computation. Even though an exemption under section 6388.5 provides that property must be removed from the state within 75 days from and after the date of the delivery, interest is calculated based on the due date of the tax on the sale if the property is not removed from the state in the required days. The exemption does not provide a 75 day extension for the due date of taxes on the transactions that could, but do not, qualify. A transaction is either exempt under section 6388.5 or it is not. If not, the due date of the tax is based on the date of sale, as with any other taxable transaction, and not on the date of the sale plus 75 days. 1/7/88.