SALT Blog – State and Local Tax Blog
The State and Local Tax ("SALT") blog provides news updates and commentary about state and local tax issues.
You can expect to find relevant information about topics such as income (corporate and personal) tax, franchise tax, sales and use tax, property (real and personal) tax, fuel tax, capital stock tax, bank tax, gross receipts tax and withholding tax.
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Virginia, like Texas, treats a contractor as the consumer, or the user, of materials that it purchases in order to perform construction and other contracting services. See generally, Virginia Field Audit Guidelines. In the case of Texas, this application of this rule depends on the invoice methodology used by the contractor, i.e., whether the contractor uses a separated or completed contract. See generally, Texas Audit Procedures for Contractors and Repairmen.
In the instant case, the taxpayer fabricates and delivers to job sites various tangible personal property (“TPP” ...