Ga. Comp. R. & Regs. 560-12-2-.60

Current through Rules and Regulations filed through October 17, 2024
Rule 560-12-2-.60 - Lost, Damaged, Or Unclaimed Property

The tax does not apply to compensation paid by common carriers to their customers for tangible personal property which is lost or damaged while in possession of such carriers. However, if a common carrier retains such property and converts it to its own use, the carrier shall pay the tax on the salvage value. When a common carrier sells damaged or unclaimed property, it must collect and remit the applicable tax.

Ga. Comp. R. & Regs. R. 560-12-2-.60

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 "Lost, Damaged, or Unclaimed Property" was filed and effective on June 30, 1965.