10-45-99. Definitions.
91 words·~1 min read·
/sd/title-10/chapter-10-45/10-45-99A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Terms used in §§ 10-45-99 to 10-45-107 , inclusive, mean:
(1)"Department," the Department of Revenue;
(2)"Business," a business that has purchased and is installing tangible personal property in the form of equipment or machinery for direct use in a manufacturing, fabricating, or processing business, which is subject to sales or use tax pursuant to chapter 10-45 or 10-46 ;
(3)"Project," the purchase and installation of equipment or machinery;
(4)"Project cost," the amount paid in money for a project;
(5)"Secretary," the secretary of the Department of Revenue.