10-46A REALTY IMPROVEMENT CONTRACTOR'S EXCISE TAX
REALTY IMPROVEMENT CONTRACTOR'S EXCISE TAX
Tax imposed on prime contractor's receipts from realty improvement contracts--Rate
Effective date--Application to contracts, sales and change orders.
Contracts subject to alternative tax--Exception.
Tax measured by gross receipts upon accrual basis.
Payment of tax on cash basis.
Taxes on receipts of worthless accounts.
Filing return and remitting tax-Time for filing and remittance--Extension--Penalty
for untimely return or remittance.
Prime contractors and subcontractors subject to tax.
Subcontractors--Definition--Certificate issued by prime contractor--Tax liability--Misuse of certificate--Government entities not to issue certificates.
Total contract price as basis of tax--Purchased materials.
Gross receipts defined--Items not deductible.
Improvement without contract taxable when sold within four years after completion--Exceptions--Determination of gross receipts.
Tax imposed on improvements built for lease--Credit against tax on sale--Due date--Exemptions.
Administration of tax--Sales tax provisions applicable.
Report and payment of tax.
Lien and enforcement provisions applicable to contractors' tax.
Municipal tax on contractors--Rate--Restitution.
Contractors may list excise and use taxes as separate line item on contracts and bills.
Contractor to post excise tax license number with building permit for realty
When building permit not required.
Personal liability of officers, managers, or partners of entity failing to file returns or
pay tax--Security in lieu of liability--Bonded municipal officials exempt.
Violation of chapter as criminal offense--Classification.
Restriction on application of rate increase.
Contractor's excise tax license required--Application.
Issuance of license--Assignment prohibited.
Refusal to issue license for failure to pay tax--Bond.
Exemption for floor laying.
Exemption of repair shops, locksmiths, and locksmith shops.
Promulgation of rules.