Section 45 IAC 2.2-4-23 - Procedure when tax paid on construction material when purchased by contractorAuthority: IC 6-8.1-3-3
Affected: IC 6-2.5
Sec. 23.
A contractor has no further liability for either the state gross retail tax or use tax with respect to construction material acquired by the contractor in a taxable transaction, provided the contractor disposes of such property in the following manner:
(1) He converts the construction materials into realty on land he owns and then sells the improved real estate;(2) He utilizes the construction material for his own benefit and does not resell or transfer such property to others; or(3) Lump sum contract. He converts the construction material into realty on land he does not own pursuant to a contract that includes all elements of cost in the total contract price.Department of State Revenue; Ch. 4, Reg. 6-2.5-4-9 a (030); filed Dec 1, 1982, 10:35 am: 6 IR 22