42-5076
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42-5076. Owner builder sales classification; definitions A. The owner builder sales classification, comprised of persons who sell real property as improved at any time on or before the expiration of twenty-four months after the improvement is substantially completed, meaning suitable for the use or occupancy intended, shall be subject to tax under this classification for the purpose of taxing the sale of those improvements incorporated within that twenty-four month period. B. The purchase of tangible personal property for incorporation into any realty improvement, building, highway, road, railroad excavation, or other structure, project, development or improvement is subject to the tax computed on the sales price thereof, except for the purchase of tangible personal property which sale has already been subjected to the tax imposed under section 42-5061. |