Ala. Admin. Code r. 810-6-2-.52.05

Current through Register Vol. 42, No. 10, July 31, 2024

Section 810-6-2-.52.05 - National And State Banks

(1) Sales of tangible personal property to any national or state bank are taxable unless the bank is purchasing the property for resale. (Sections 40-23-2 and 40-23-61, Code of Ala. 1975, and 12 U.S.C. Section 548 )

(2) National or state banks that are in the business of selling tangible personal property shall collect sales or use tax on their retail sales. Examples of retail sales by banks include sales by bank-operated cafeterias and sales of personalized checks or coin banks to bank customers. (Sections 40-23-2 and 40-23-61, Code of Ala. 1975, and 12 U.S.C. Section 548 )

Authors: Patricia A. Estes, Dan DeVaughn

Ala. Admin. Code r. 810-6-2-.52.05

Adopted February 13, 1970, readopted through APA effective October 1, 1982; amendment filed February 26, 1987. Amended: Filed May 5, 1999; effective June 9, 1999.

Statutory Authority:Code of Ala. 1975, §§ 40-2A-7(a)(5), 40-23-2, 40-23-31, 40-23-61, 40-23-83.