Published: 2017-11-28
Total Pages: 36
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Excerpt from Regulations 47 Relating to the Excise Taxes on Sales by the Manufacturer: Under Section 900 of the Revenue Act of 1918 Art. When tax: attaches - T he tax attaches when the article is sold; that is to say, when the title. To it passes from the vendor to the purchaser pursuant to la previous contract of sale or upon a sale without previous contract. When title passes is a question of fact dependent upon the intention of the parties as gathered from the contract of sale and the attendant circumstances. Where goods are segregated from other goods owned by the vendor and it is the intention of-both the vendor and the purchaser at the time the goods are segregated that they, shall then belong to the pur chaser, the title will be presume-d'to pass at such time. In the absence of an intention to the contrary the title is presumed to pass upon delivery of the article to the purchaser or to a carrier for the purchaser. In the case of a conditional sale, where the title is re served in the vendor until payment of the purchase price in full, the tax attaches (a) upon such payment, or (b) when title passes if before completion of the payments, or (c) when, before completion of the payments, the dealer disposes of the sale by charging off, by any method of accounting he may adopt, the unpaid portion of the contract price. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
