Rhode Island Code of Regulations
Title 280 - Department of Revenue
Chapter 20 - Division of Taxation
Subchapter 70 - Sales and Use Tax
Part 13 - Materialmen - Pay When Paid Remittance Method (280-RICR-20-70-13)
Section 280-RICR-20-70-13.6 - Record-Keeping
Universal Citation: 280 RI Code of Rules 20 70 13.6
Current through December 26, 2024
A. In addition to the usual record-keeping requirements for retailers, a materialman using the "pay when paid" method must keep the following records for each sale made:
1. The date of the sale;
2. Proof that the sale meets the
qualifications for the "pay when paid" method;
3. The amount of credit, if any, extended by
the materialman to the contractor for each sale;
4. The terms for payment of the purchase
price or repayment of any credit; and
5. The date or dates on which the purchase
price is paid or the credit is repaid, in whole or in part, and the amount of
each payment or repayment.
B. The records, along with the approval letter from the Tax Division for each year the materialman qualifies to use this method, must be kept for three years from the date the tax on each sale is paid over to the Tax Division in full; provided, however, that the Tax Administrator may require they be kept for a longer period.
Disclaimer: These regulations may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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