Title15, Section 381 of the Interstate Commerce Tax Act (P.L. If a corporation conducts business activity within Maryland and exceeds the provisions of U.S.C.A. Nexus indicates a taxable connection between a corporation and a taxing authority. The Maryland corporation income tax applies to every Maryland corporation and every other corporation that has a nexus with Maryland. How is the tax applied to sales of cigarettes? However, if these charges are included in a lump-sum price with no separate statement, the tax must be collected on the entire amount of the sale. Reductions to the taxable price must be made known to the buyer by documentary evidence in existence at the time of the sale. Additionally, the tax does not apply to consumer excise taxes, deposits, cash discounts and mandatory gratuity charges on food and beverage sales for groups of ten or fewer.
#Delaware gross receipts tax professional#
The taxable price may be reduced by separately-stated charges for installation, professional services, interest payments and delivery services. The taxable price is not reduced for any expense or cost for labor or service rendered, material used or any property sold except as explained below. It includes the amount of liabilities assumed by the buyer, the value of services performed for the vendor and, except for federal food stamps, the face value of any coupon for which the vendor can get reimbursement from another source. The tax is imposed on the entire price whether paid in the form of money, promises, barter or anything else of value.