Section R15-5-129. Discounts, Refunds, and Coupon Redemption

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A.      Cash discounts allowed the purchaser for timely payment are permissible as deductions from the sale price.

B.       Refunds in cash or credit given on returned merchandise are considered to be a reduction of sales.

C.      When coupons issued by a manufacturer are redeemed by a retailer the amounts refunded to the purchaser are not permis- sible as deductions from the selling price of articles sold by the retailer. In these cases, the gross selling price is taxable.

D.      Coupons issued by a retailer and later redeemed by the retailer as a discount on the price of merchandise sold by him are con- sidered a reduction of the selling price. In such cases the net selling price is subject to tax.

Historical Note

Renumbered from R15-5-1840 effective August 9, 1993 (Supp. 93-3).

                    
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