The regulation provides that a seller is not required to obtain an exemption certificate on sales of energy-efficient and WaterSense products. Certificates are not required on sales of water-conserving products that are listed in the amended rule, but the rule requires the seller to keep records that identify the water-conserving products sold, including sales dates and prices. In addition, a seller must obtain a completed exemption certificate on sales of any water-conserving items not listed in the rule.
The amended rule combines layaway sales with Internet and mail-order sales and defines "when a seller accepts an order," (i.e., when a seller takes action to fill an order). (Under the previous rule, a seller was deemed to have accepted a layaway order when he removed the item from inventory or identified the item as sold.) The rule exempts qualifying items that are ordered but not delivered during the holiday if the seller accepts the order and schedules the order for immediate delivery. Further, the rule exempts qualifying items placed in layaway or taken out of layaway during the holiday.
When a qualifying item is returned, the Comptroller assumes that no tax was paid unless the purchaser provides a tax-paid invoice or receipt. The previous rule required a seller to obtain a tax-paid receipt or invoice if a qualifying item was returned within 30 days of the tax-free holiday.
Ryan is an award-winning global tax services firm, with the largest indirect and property tax practices in North America and the seventh largest corporate tax practice in the United States. With global headquarters in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a five-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 2,100 professionals and associates serves over 12,000 clients in more than 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at ryan.com.
Logo - http://photos.prnewswire.com/prnh/20160125/325377LOGO
TECHNICAL INFORMATION CONTACTS:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/texas-adopts-amendments-to-rule-on-sales-tax-holiday-for-energy-star-and-watersense-products-300363298.html