Taxes on receipts of worthless accounts

Taxes paid on gross receipts represented by accounts found to be worthless and actually charged off for income tax purposes, may be credited upon a subsequent payment of the tax. If such accounts are thereafter collected by the contractor, the tax shall be paid upon the amount so collected. Source: SL 1990, ch 93 , § 6. 10-46B-1.4. Repealed by SL 2006, ch 61 , § 5, eff. Feb. 6, 2006. 10-46B-1.5. Repealed by SL 2007, ch 65 , § 9.