Assume the merchant sells zero-rated tangible personal property
17) Many states have enacted "printer's nexus" safe-harbor legislation, which provides in part that nonresident corporations shall not be deemed to have nexus with a state by virtue of that nonresident's: (1) retention of an in-state printer, (2) storage of tangible personal property
at an in-state printer's plant, when that property is used in the printing process, and (3) visitation to an in-state printer's plant.
In the event neither test is met, sales of tangible personal property
to purchasers in the other state must be included in (or "thrown back" to) the taxing state's sales factor numerator.
However, if the prewritten releases were provided via tangible means, the "true object" test is used to determine whether the sale of tangible personal property
Tangible personal property
purchased for use by a contractor purchasing that property either as an agent of a qualified person or for the contractor's own account and subsequent resale to a qualified person for use in the performance of a construction contract for the qualified person who will use the tangible personal property
as an integral part of the manufacturing, processing, refining, fabricating, or recycling process, or as a research or storage facility for use in connection with the manufacturing process.
The sales price includes $40,000 for tangible personal property
and $960,000 for real property.
Code [sections] 23649(d)(1)(A) provides that "use" (i) begins at the point at which any raw materials are received by the qualified taxpayer and introduced into the process and (ii) ends at the point at which the manufacturing, processing, refining, fabricating, or recycling has altered tangible personal property
to its completed form, including packaging, if required.
Central to the BOE's argument was its claim that copying software to a disk or magnetic tape transformed the software from an intangible into a piece of tangible personal property
and, thus, made it taxable.
5) Consequently, Texas taxes the sale of electronically delivered offerings as sales of tangible personal property
1, 2014, California requires taxpayers who exchange real or tangible personal property
located in California for like-kind property located outside of California, and that meet all of the requirements of IRC Sec.
It is especially necessary to ensure risks to real property and tangible personal property
CASE FACTS: Should immunity or exemption from liability be determined by whether tangible personal property
is used to treat?