Rule 560-12-1-.12 - Consigned Tangible Personal Property(1) Tangible personal property consigned, delivered to or entrusted to a dealer for the purpose of sale is taxable at the time of sale at retail. The retailer is required to collect and remit the tax based upon the sales price.(2) When consigned tangible personal property is used for any purpose other than retaining, demonstrating or displaying it for sale, the consignee shall be liable for the tax on the fair market value of the property at the time of its first use.Ga. Comp. R. & Regs. R. 560-12-1-.12
Ga. Code Ann. Secs. 94-3438a, 92-8405, 92-8406, 92-8409, 92-8427.
Original Rule entitled "Consignments" adopted. F. and eff. June 30, 1965.Repealed: New Rule entitled "Consigned Tangible Personal Property" adopted. F. Aug. 26, 1974; eff. Sept. 15, 1974.