Section 320 Sample Clauses

Section 320. UNIFORM RULES FOR RECOVERY OF BAD DEBTS 14 Each member state shall use the following to provide a deduction for bad debts to a seller. To 15 the extent a member state provides a bad debt deduction to any other party, the same procedures 16 will apply. Each member state shall:
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Section 320. UNIFORM RULES FOR RECOVERY OF BAD DEBTS 13 Each member state shall use the following to provide a deduction for bad debts to a seller. To 14 the extent a member state provides a bad debt deduction to any other party, the same procedures 15 will apply. Each member state shall: 16 A. 18 B. 20 21 22 23 24 C. 25 26 27 28 29 30 Allow a deduction from taxable sales for bad debts. Any deduction taken that is attributed to bad debts shall not include interest. Utilize the federal definition of “bad debt” in 26 U.S.C. Sec. 166 as the basis for calculating bad debt recovery. However, the amount calculated pursuant to 26 U.S.C. Sec. 166 shall be adjusted to exclude: financing charges or interest; sales or use taxes charged on the purchase price; uncollectable amounts on property that remain in the possession of the seller until the full purchase price is paid; expenses incurred in attempting to collect any debt, and repossessed property. Allow bad debts to be deducted on the return for the period during which the bad debt is written off as uncollectable in the claimant’s books and records and is eligible to be deducted for federal income tax purposes. For purposes of this subsection, a claimant who is not required to file federal income tax returns may deduct a bad debt on a return filed for the period in which the bad debt is written off as uncollectable in the claimant’s books and records and would be eligible for a bad debt deduction for federal income tax purposes if the claimant was required to file a federal income tax return.
Sample 1

Related to Section 320

  • Section 4.4 10 The Association reserves and retains the right to delegate any right or duty contained herein, within the 11 scope of statute, to appropriate officials of the Public School Employees of Washington State 12 Organization.

  • Section 3.4 24 Each employee reserves and retains the right to delegate any right or duty contained in this Agreement, 25 exclusive of compensation for services rendered, to appropriate officials of the Association.

  • Section 4.5 37 The President of the Association and designated representatives will be provided time off without loss of 38 pay to a maximum of three (3) days per year to attend regional or State meetings when the purpose of 39 those meetings is in the best interests of the District as determined by the District administration.

  • Section 504 Trustee May File Proofs of Claim................... 34 Section 505. Trustee May Enforce Claims Without Possession of Securities......................................... 35

  • Section 4.7 1. 42 The responsibility for the prompt removal of notices from the bulletin boards after they have 43 served their purpose shall rest with the individual who posted such notices. 44 45 46 47 48 49 1 ARTICLE V 2 3 APPROPRIATE MATTERS FOR CONSULTATION AND NEGOTIATIONS

  • Section 5.3 40 It is further recognized that this Agreement does not alter the responsibility of either party to meet with 41 the other party to advise, discuss or consult regarding matters concerning working conditions not 42 covered by this Agreement. 43

  • Disclosure Schedule The Company has delivered the Disclosure Schedule and, if applicable, the Disclosure Update to Treasury and the information contained in the Disclosure Schedule, as modified by the information contained in the Disclosure Update, if applicable, is true, complete and correct.

  • Section 6.2 13 The Association representatives may represent the Association and employees in meeting with officials 14 of the District to discuss appropriate matters of mutual interest. They may receive and investigate to 15 conclusion complaints or grievances of employees on District time and thereafter advise employees of 16 rights and procedures outlined in this Agreement and applicable regulations or directives for resolving 17 the grievances or complaints. They may not, however, continue to advise the employee on courses of 18 action after the employee has indicated a desire not to pursue a grievance. This does not, however, 19 preclude the Association's right to pursue the matter to conclusion. They may consult with the District 20 on complaints without a grievance being made by an individual employee.

  • Section 3.2 39 Each employee shall have the right to bring matters of personal concern to the attention of appropriate 40 Association representatives and/or appropriate officials of the District.

  • Section 4.6 15 The responsibility for the prompt removal of notices from the bulletin boards after they have served their 16 purpose shall rest with the individual who posted such notices.

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