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1999 SESSION

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SB 774 Sales and use tax; transfer of manufacturer's tooling, etc.

Introduced by: William C. Wampler, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Sales and use tax; transfer of manufacturer’s tooling, etc. Provides that the transfer of title to property after its use as tools, tooling, machinery or equipment will not be considered a “retail sale” for sales tax purposes if (i) at the time of transfer, the purchaser is obligated under the terms of a written contract and (ii) the transfer is made for the same or a greater consideration to the person for whom the purchaser manufactures goods.


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