Appendix A. RULES AND REGULATIONS PROMULGATED IN CONNECTION WITH THE PARISH SALES AND USE TAX

Rule 16. - Computation of tax; finance and service charges.

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Finance charges, carrying charges or interest charges, arising from credit extended on sales under installment sale contract or other installment contracts providing for deferred payment of the purchase price are not considered a part of the selling price if such charges are separately stated to the customer and do not exceed eight (8) percent per annum. If the charges exceed eight (8) percent the excessive portion shall be considered a part of the selling price and as such, taxable.

Service charges such as notarial fees, transfer of title fees, recording fees, and similar charges are not considered a part of the selling price if such charges are separately stated to the customer and do not exceed six (6) percent of the amount financed. If such charges exceed six (6) percent of the amount financed, the excessive portion shall be considered a part of the selling price and as such, taxable.

Failure to separately state finance or service charges from the basic sales price subjects the entire amount to tax.

                    
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