TTR Announces New Construction Content

Thursday, June 15th, 2017

 
 
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June 15, 2017 - McMinnville, Oregon

TTR, the leading supplier of sales tax answers, announced today that it has added some very important construction content to its online sales and use tax library. This brand new content provides greatly needed answers on when a contractor must pay tax on materials and when a contractor can purchase materials tax-free, for both residential and commercial projects.

Accurately taxing contractors' purchases of materials has been challenging for the construction industry. For example, built-in cabinets for fire extinguishers may become real property after installation. In most states the contractor is expected to pay tax on the materials for these cabinets. On the other hand, if the installed item remains tangible personal property after installation (like hooks on the wall), the contractor may purchase the materials exempt for resale.

To handle this challenging area, TTR researched 48 commercial and residential real estate items across all states to determine whether the items are real property or tangible personal property and whether the contractor pays tax.

The Construction Library now addresses tax on items such as:

  • Generators attached to concrete pads
  • Drying and dehumidification services
  • Fire extinguisher installation
  • Mold remediation services

"At some point every company will need these construction services. We're happy to help all tax professionals by finding and simplifying this confusing area." - Ken Webster, TTR's Head of Research.

About TTR

TTR offers subscription-based tax laws and tax answers to over 5,800 U.S. companies that comprise nearly 70% of the Fortune 1,000. TTR's goal is to create a better life for tax and accounting professionals. For more information, visit www.ttrus.com.


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