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Cable television, Internet access and telecommunications providers have until Sept. 2, 2014, to claim a 6.25 percent refund for state sales and use taxes paid on qualifying purchases made Sept. 1, 2013, through Dec. 31, 2013. Read more about qualifying purchase and the process for requesting a refund on the state comptroller website.
The Texas Court of Appeals recently ruled that a taxpayer was not entitled to a manufacturing exemption from Texas sales tax for equipment used in extracting natural gas and oil and for services pertaining to that equipment. According to the court, the taxpayer was not able to claim purchases such as casing, tubing, pumps and related parts for any of the available exemptions, which include:
Under all three exemptions, the property had to be used or consumed in the actual manufacturing, processing, or fabrication of tangible personal property for ultimate sale, and the court held that the extraction of oil and gas did not qualify.
Sources: Texas State Comptroller, Wolters Kluwer CCH
For more information on how these Texas sales and use tax updates impact your business, contact Doeren Mayhew’s Houston CPAs.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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