§ 150-712. Ascertaining and fixing tax when dealer has no record, etc.

Latest version.

(a)

If a dealer has imported tangible personal property and fails to produce an invoice showing the cost price of the articles which are subject to tax or the invoice does not reflect the true or actual cost price, the director shall ascertain, in any manner feasible, the true cost price and assess and collect the tax with interest, plus penalties, if such have accrued, on the true cost price as assessed by him. The assessment so made shall be considered prima facie correct and the burden shall be on the dealer to show the contrary.

(b)

In the case of the lease or rental of tangible personal property, if the consideration given or reported by the dealer does not, in the judgment of the director, represent the true or actual consideration, then the director may fix the consideration and collect the tax thereon in the same manner as above provided, with interest plus penalties, if such have accrued.

(Code 1956, § 56-76)

                    
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