Common Contracts
1 similar Profit Sharing and Cost-Plus Agreements contracts
ContractProfit Sharing and Cost-Plus Agreements • March 1st, 2024
Corporate Sourcing Partner intends to resale the vehicle. Under the Corporate Sourcing Partner – Profit Sharing agreement – when Taxpayer returns a vehicle, no sales tax is due as there is no sale. Taxpayer would be liable for use tax on any taxable repairs and taxable car wash services purchased for resale, but instead, returned to the Corporate Sourcing Partner, thus deemed to have been used by Taxpayer. Corporate Sourcing Partner - Profit Sharing • Seller’s share of profit• Seller’s share ofprocessing fee Taxpayer’s charges to the Corporate Sourcing Partner for the percentage of profits generated from the sale of the vehicle would be deemed aservice, not taxable under Chapter 212, F.S. Corporate Sourcing Partner - Cost-Plus (Backstop) • Agreed-upon base price for the vehicle• Additional fixed dollar amount in addition to the base price for the vehicle Taxpayer’s charges to the Corporate Sourcing Partner for the vehicle would not be subject to sales tax as a sale for resale if Ta
