Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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S

495.0000 SALE

Annotation 495.0377

(a) IN GENERAL—DEFINITION

495.0377 Property Transferred Pursuant to Court Order. When a retailer removes property from its ex-tax inventory and transfers it pursuant to a court order which required the transfer as part of an award of damages, the retailer is the consumer of that property. Thus, the retailer must report use tax measured by the purchase price of the property. 3/26/90.