Laws, Regulations and Annotations

Search

Business Taxes Law Guide—Revision 2024

Sales and Use Tax Annotations


A    B    C    D    E    F    G    H    I    J    L    M    N    O    P    R    S    T    U    V    W    X   


G


295.0000 Gross Receipts

Annotation 295.0175

(a) General

295.0175 Coupons Received in Settlement of Law Suit. In settling a class action case, an association agreed to issue coupons with a face value of $150 which the plaintiffs could use as payment towards a purchase or lease of a vehicle. The coupons may be redeemed at any dealer who is a member of the association. These coupons are in the nature of third party coupons and derive their values from the settlement agreement. It is not a voluntary reduction in price. Additionally, the cost of the redemption is to be shared in whole or in part by the association. The coupons represent taxable gross receipts. 5/16/97.