Change in Sales and Use Tax Sample Clauses

The Change in Sales and Use Tax clause defines how adjustments to sales and use taxes are handled during the term of an agreement. It typically stipulates that if there is a change in the applicable tax rates or tax laws affecting the transaction, the contract price will be adjusted accordingly to reflect the new tax obligations. For example, if a state increases its sales tax rate after a contract is signed, the buyer may be required to pay the additional amount resulting from the change. This clause ensures that neither party is unfairly burdened by unforeseen changes in tax law, allocating the risk of tax fluctuations and maintaining fairness in the contractual relationship.
Change in Sales and Use Tax. The Contract Price includes the 6.625% New Jersey State Sales and Use Tax. If a change in the applicable New Jersey State Sales and Use Tax rate is enacted by the New Jersey Legislature and becomes effective during the term of this Agreement, the Contract Price shall be adjusted to reflect such change.
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Related to Change in Sales and Use Tax

  • Sales and Use Tax Any sales and use tax that may accrue because of this transaction must be paid when due by None Buyer Seller One-Half by Buyer and One-Half by Seller.

  • Sales and Use Taxes Professional Business Manager and the Practice acknowledge and agree that to the extent that any of the services to be provided by Professional Business Manager hereunder may be subject to any state sales and use taxes, Professional Business Manager may have a legal obligation to collect such taxes from the Practice and to remit the same to the appropriate tax collection authorities. The Practice agrees to have applicable state sales and use taxes attributable to the services to be provided by Professional Business Manager hereunder treated as an Office Expense.