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BTLG Table of Contents > Sales and Use Tax Annotations > C > 200.0000 Credit Sales and Repossessions > Annotation 200.0124

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C

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200.0000 Credit Sales and Repossessions—Regulation 1641

Annotation 200.0124

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200.0124 Interest Charge. When at the time of sale the price for the merchandise is paid in full, an amount termed an "interest payment" is not excludable from the measure of tax. The interest charge is not attributable to a credit sale of the merchandise.

The taking over of the contract by the second customer is regarded as a sale to that customer. If such sale was made by the original vendor, it is subject to tax. If the sale was made by the original purchaser, it may or may not be taxable, but the original vendor would not be liable. 6/26/53. (Am. 2004–2).