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Business Taxes Law Guide—Revision 2024

BTLG Table of Contents > Sales and Use Tax Annotations > G > 295.0000 Gross Receipts > Annotation 295.1365

Sales and Use Tax Annotations


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G

295.0000 Gross Receipts

Annotation 295.1365

(f) Costs and Expenses

295.1365 Letter of Credit Charges. The separate statement of reimbursement for an item of expense incurred under the terms of the sales contract is includable in gross receipts. Therefore, a charge for a letter of credit is subject to tax. 3/15/91.