Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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385.0000 NEWSPAPERS AND PERIODICALS—Regulation 1590

Annotation 385.1060

(d) BUSINESS REPORTS, HOUSE ORGANS, NEWSLETTERS

385.1060 Financial Statements and Reports. Three quarterly financial statements, published regularly at the end of each of three quarters for a bank, and a year-end report issued as a capsule preview of the annual report, are, because of their regularity of publication and similarity of content and format, all exempt periodicals. However, the bank's annual report, which is not of similar format or one of a series of publications, does not qualify as an exempt periodical. 9/27/66.

(Note: Section 6362.7, operative November 1, 1992, which requires that to qualify for the periodical exemption, the publication must be distributed free of charge or sold by subscription.) (Am. 2003).