Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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P

440.0000 PROPERTY USED IN MANUFACTURING—Regulation 1525

Annotation 440.1894

(b) PROPERTY BECOMING COMPONENT PART OF FINISHED PRODUCT

(1) In General

440.1894 New Wine Oak Barrels—Retroactive Effect. Information submitted to the Board supported the fact that new oak wine barrels are purchased primarily for the purpose of incorporating oak into the wine, that is, for resale, and not as containers for aging wine. The Board then amended Regulation 1525, effective April 3, 1996, to recognize new oak wine barrels purchased for such purposes were purchased for resale based on existing law. There was no basis for distinguishing earlier periods from future periods since there had been no change in industry practice. Thus, the amendment to Regulation 1525 merely applies existing law to the facts found by the Board, and it is retroactive. 5/31/96.