Rule 560-12-1-.17 - Dual Operator(1) The term "dual operator" means a dealer in the business of selling tangible personal property who, in addition to selling at retail, withdraws tangible personal property from inventory for use in performing contracts.(2) When a dual operator makes purchases of tangible personal property, a part of which he will sell at retail and a part of which he will convert to his own use in performing a contract, such operator should furnish his supplier with a properly executed Certificate of Exemption.(3) The dual operator must collect and remit the tax on the sales price of the tangible personal property sold at retail, and pay the tax on the fair market value of the tangible personal property used by him in performing a contract.(4) For the purpose of this regulation "fair market value" means the fabricated cost of the article at the time of its first use in performing a contract.Ga. Comp. R. & Regs. R. 560-12-1-.17
Ga. L. 1937-38, Extra Sess., pp. 77, et seq., as amended (Ga. Code Ann., Secs. 92-8405, 8406, 8409, 8427); Ga. L. 1951, pp. 360, 385 (Ga. Code Ann., Sec. 92-3438a).
Original Rule entitled "Exceptional or Special Reporting" was filed and effective on June 30, 1965.Amended: Rule repealed and a new Rule entitled "Dual Operator" adopted, filed August 26, 1974; effective September 15, 1974.