Small business credit

From the 2024 DOR Tax Exemption Study

Det. No. 13-0267, 33 WTD 33 (February 28, 2014) 35 a post assessment adjustment (PAA) on February 11, 2013 totaling $19,836,5 comprised of $16,617 of retail sales tax, retailing B&O tax of $1,181, a $93 small business credit, a 5 percent assessment penalty of $895, and interest of $665. The sole adjustment that Audit made in the PAA was based on a cancelled check for $1,652 for retail sales tax that Taxpayer paid to one of its vendors . . . . Audit gave Taxpayer credit for this amount in the PAA.6 ANALYSIS The term “sale at retail” or “retail sale” includes: (1)(a) . . . [E]very sale of tangible personal property (including articles produced, fabricated, or imprinted) to all persons irrespective of the nature of their business and including, among others, without limiting the scope hereof, persons who install, repair, clean, alter, improve, construct, or decorate real or personal property of or for consumers * * * (2) . . . [T]he sale of or charge made for tangible personal property consumed and/or for labor and services rendered in respect to the following: . . . (b) The constructing, repairing, decorating, or improving of new or existing buildings or other structures under, upon,