Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2017

Sales and Use Tax Annotations

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460.0000 REIMBURSEMENT FOR SALES TAX—Regulation 1700

Annotation 460.0024

460.0024 Excess Tax Reimbursement. An overage in a tax reimbursement account in the taxpayer's records is not excess tax reimbursement which must be returned to the customer provided that amount is not the result of the collection of tax reimbursement on a nontaxable sale, reimbursement in excess of the taxable amount, reimbursement at a rate higher than the actual rate, or mathematical or clerical errors. For example, an overage resulting from rounding that occurs by following prescribed reimbursement charts is not excess tax reimbursement subject to refund to the customer or payment to the state. 10/29/96.