Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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495.0000 SALE

Annotation 495.0080


495.0080 Cash in Lieu of Prize. The winner of a car in a raffle decided he did not want the car, but the cash instead, which the dealer gave to him out of the proceeds received from the organization conducting the raffle. The car remained on display at the dealership, was not registered in the winner's name and there was no transfer of title or possession to the car. Under these circumstances no sale took place, and thus, no tax liability would arise from the transaction. 12/8/66.