A. Taxpayers subject to the Gross Receipts and Compensating Tax Act, when billing a customer, shall separately state the amount of tax associated with the transaction or provide a statement affirmatively indicating that the gross receipts tax is included in the amount billed.
B. When the gross receipts tax is stated separately on the books of the seller or lessor, and if the total amount of tax that is stated separately on transactions reportable within one reporting period is in excess of the amount of gross receipts tax otherwise payable on the transactions on which the tax was stated separately, the excess amount of tax stated on the transactions within that reporting period shall be included in gross receipts.
History: 1953 Comp., § 72-16A-6, enacted by Laws 1966, ch. 47, § 6; 1970, ch. 28, § 1; 2019, ch. 270, § 29.
The 2019 amendment, effective July 1, 2019, required taxpayers subject to the gross receipts and compensating tax, when billing a customer, to separately state the amount of the tax associated with the transaction; and added a new Subsection A and subsection designation "B".
Am. Jur. 2d, A.L.R. and C.J.S. references. — Reusable soft drink bottles as subject to sales or use taxes, 97 A.L.R.3d 1205.
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