Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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495.0000 SALE

Annotation 495.0020


495.0020 Barter. A shoemaker who takes a pair of shoes worth $100 from his merchandise inventory and exchanges the shoes for an item for his personal use is engaging in a taxable sales transaction. A transfer of title or possession by exchange or barter falls within the definition of a sale. Any transfer of tangible personal property in exchange for a thing of value is a sale. 12/29/64.