Davis v. Commissioner of Revenue

OPINION

HENDLEY, Judge.

The Bureau made a deficiency assessment of gross receipts tax on Davis for State and Municipal tax.. The assessment was based on Davis’ failure to include “time price differentials” on credit sales which were made on installment contracts and sold to finance companies.

Although the retail installment contracts were made in Davis’ name, the finance companies furnished the 'contract forms, approved credit of the purchasers before the contracts were executed, and then purchased the contracts by paying Davis the “Total Cash Sales Price” less the amount received by Davis as á…