Indiana Administrative Code — Title 45 (Dept. of State Revenue)
45 IAC 2.2-6-12
Bad debts deduction
Sec. 12. (a) In determining the taxpayer's sales and use tax liability under Regulation 6-2.5-6-7 [45 IAC 2.2-6-8], a
retail merchant shall deduct from his gross retail income from retail transactions made during a particular reporting period, the retail merchant's bad
debts or uncollectible receivables.
(b) In order to qualify for this exemption the retail merchant must have:
(1) Previously reported the transaction and remitted the sales or use tax to the Department;
(2) Not collected the tax from the customer; and
(3) Written the receivable off for federal income tax purposes.
Amendment history
(Department of State Revenue; Ch. 6, Reg. 6-2.5-6-9(a)(010); filed Dec 1, 1982, 10:35 am: 6 IR 63)
Source: view the official text
Nearby sections (25 sections)
- 2.2-5-70 · Environmental quality control equipment
- 2.2-6-1 · Time limit on returns and payments
- 2.2-6-2 · Reporting periods
- 2.2-6-3 · Fiscal taxpayer's reporting period
- 2.2-6-4 · Accrual basis; reporting and payment
- 2.2-6-5 · Consolidated filing
- 2.2-6-6 · Sales and use tax collections
- 2.2-6-7 · Final return and payment
- 2.2-6-8 · Amount of tax liability
- 2.2-6-9 · Income exclusion ratio
- 2.2-6-10 · Income exclusion ratio defined
- 2.2-6-11 · Recordkeeping requirements on exempt sales less than ten…
- 2.2-6-12 · Bad debts deduction
- 2.2-6-13 · Collection from bad debts
- 2.2-6-14 · Collection allowance
- 2.2-6-15 · Collection allowance rates
- 2.2-6-16 · Collection allowance; those not entitled
- 2.2-6-17 · Energy assistance deductions
- 2.2-7-1 · Display of price on pump
- 2.2-7-2 · Rate of tax
- 2.2-7-3 · Collection by retail merchant
- 2.2-7-4 · Exempt transactions; refund procedures for cash transactions
- 2.2-7-5 · Exempt transactions; refunds, procedures for credit…
- 2.2-7-6 · Reports; payments, deductions
- 2.2-7-7 · Payments and deductions