17 NCAC 07B .3012          TRADE: GRAIN FOR FLOUR

Bags of flour or corn meal given by a miller to a customer in exchange for grain which is placed in the miller's inventory does not constitute a taxable transaction.  The charge by a miller to mill a customer's own grain which is returned to the customer is not subject to sales tax.  Grain bartered for dissimilar merchandise is subject to the applicable statutory state and local sales or use tax on the usual retail selling price of the merchandise received for the grain.

 

History Note:        Authority G.S. 105‑164.4; 105‑164.13; 105‑262; Article 39; Article 40; Article 42; Article 43; Article 44; Article 46;

Eff. February 1, 1976;

Amended Eff. May 1, 2009; October 1, 1993; October 1, 1991.