Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Transactions and Use Tax Annotations

800.0000 APPLICATION OF TRANSACTIONS (SALES) TAX AND USE TAX—Regulation 1823

Annotation 800.0010

800.0010 Fixed-Price Contracts. A sales contract is a "fixed-price" contract if it satisfies the following criteria:

(1) It is binding prior to the operative date of the ordinance establishing the tax.

(2) Neither party has an unconditional right to terminate the contract.

(3) The amount of tax or the tax rate is set forth in the contract. 10/4/90.