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Business Taxes Law Guide—Revision 2024
Sales and Use Tax Annotations
A B C D E F G H I J L M N O P R S T U V W X
G
295.0000 Gross Receipts
Annotation 295.1070
(d) Consideration Other Than Money
295.1070 Gift Certificates Used as Prizes. Where a golf club holds tournaments and the entry fee includes a charge for a meal at the club restaurant and the tournament prizes consist of gift certificates usable at the club pro shop, the normal retail price of the meal must be included in the taxable gross receipts of the restaurant since there is a sale of tangible personal property included in the entry fee. The gift certificates are considered to be the same as cash and when they are used at the pro shop, the retail selling price of the goods must be included in the taxable gross receipts of the pro shop. 5/26/76.