Current as of April 14, 2021 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(a) “Total consideration” means the amount paid or to be paid for a taxable boat or motor, including accessories attached on or before the sale, without deducting:
(1) the cost of the item;
(2) the cost of material, labor or service, interest paid, loss, or any other expense;
(3) the cost of transportation of the item before its sale; or
(4) the amount of any manufacturer's or importer's excise tax imposed on the item by the United States.
(b) “Total consideration” does not include amounts separately stated on the bill or contract for the following:
(1) a cash discount;
(2) a full cash or credit refund to a customer of the sales price of the item returned to the seller;
(3) the amount charged for labor or service rendered in installing, applying, remodeling, or repairing the item sold;
(4) a financing, carrying, or service charge or interest on credit extended on the item sold under a conditional sale or other deferred payment contract;
(5) the value of a taxable boat or motor taken by a seller as all or a part of the consideration for sale of the item; or
(6) a charge for transportation of the item after a sale.
Cite this article: FindLaw.com - Texas Tax Code - TAX § 160.002. Total Consideration - last updated April 14, 2021 | https://codes.findlaw.com/tx/tax-code/tax-sect-160-002/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.