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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
S
495.0000 Sale
Annotation 495.0671
(c) Time and Place of Sale
495.0671 Time of Sale—Depreciation. A sale takes place when there is a transfer of title or possession for consideration. It occurs no later than when the seller completes its responsibilities with respect to physical delivery. Depreciation by the purchaser is not determinative as to when a sale of tangible personal property takes place. The Board has generally looked at a taxpayer's depreciation of assets to show that those assets are not held for resale or as evidence of an exercise of ownership. However, depreciation alone is not always sufficient to show when a sale necessarily took place. 3/16/98. (M99–2).