Who is a “qualified purchaser?
A “qualified purchaser” means a person that meets all of the following conditions: • The person receives at least $100,000 in gross receipts from business operations per calendar year. Note: Gross receipts is the total of all receipts from both in-state and out-of-state business operations. • The person is not required to hold a seller’s permit or certificate of registration for use tax (under section 6226 of the Revenue and Taxation Code). • The person is not a holder of a use tax direct payment permit as described in section 7051.3 of the Revenue and Taxation Code. • The person is not otherwise registered with the BOE to report use tax. A “person” is defined in section 6005 of the Revenue and Taxation Code.
Related Questions
- Does an environmental assessment paid for by a prospective purchaser of a qualified contaminated site qualify as an environmental remediation cost?
- My gross receipts for 2008 did not exceed $100,000 but have in previous years; am I still considered a qualified purchaser?
- What is the tax treatment of the purchaser of qualified zone academy bonds?
