Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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P

435.0000 PRODUCING, FABRICATING AND PROCESSING PROPERTY FURNISHED BY CONSUMERS—GENERAL RULES—Regulation 1526

Annotation 435.1266

(c) MISCELLANEOUS OPERATIONS

435.1266 Processing of Scrap Dental Gold. The processing of scrap dental gold alloy to dental alloy is a fabrication process and the "fungible good theory" applies. Thus, tax applies only to the exchange price if the customer retains title to the scrap dental gold and customer furnished scrap gold was available for processing prior to the shipment of the recovered gold to the customer. The processing time may be ignored. To the extent that the processor does not have on hand, at time of shipment of new gold, gold resources equal to the new gold shipped to the customer, tax applies as measured by both the processing (refining) charge and the value of the trade-in gold. 4/8/71.