34 Tex. Admin. Code § 3.283 - Bartering Clubs and Exchanges
(a) Definitions.
The following words and terms, when used in this subchapter, shall have the
following meanings, unless the context clearly indicates otherwise.
(1) Barter--To exchange taxable items without
using money.
(2) Barter
exchange--Any organization, association, or group of persons maintaining
facilities for the purpose of bringing purchasers and sellers together for the
purpose of bartering.
(3) Trade
units--The medium of exchange which is debited and credited to members'
accounts when bartering.
(b) The barter of a taxable item is the sale
of a taxable item even though trade units are accepted by the seller instead of
money.
(c) The seller must collect
and remit sales tax on the sales price of a taxable item.
(d) Barter exchanges which maintain show or
sales rooms for the purpose of bartering taxable items are sellers. See §
3.286 of this title (relating to
Seller's Responsibilities).
(e)
Dues and service fees charged by the barter exchanges to members for becoming a
member of the exchange and for maintaining records on barter transactions are
not taxable.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.