From 205acd1db244d0b511abc42ac76e69a4b098b7c4 Mon Sep 17 00:00:00 2001 From: Adrian Sales Date: Wed, 20 Aug 2025 20:09:21 +0800 Subject: [PATCH] Add 'Homebuilders and Real Property Services' --- Homebuilders-and-Real-Property-Services.md | 5 +++++ 1 file changed, 5 insertions(+) create mode 100644 Homebuilders-and-Real-Property-Services.md diff --git a/Homebuilders-and-Real-Property-Services.md b/Homebuilders-and-Real-Property-Services.md new file mode 100644 index 0000000..85ddd9b --- /dev/null +++ b/Homebuilders-and-Real-Property-Services.md @@ -0,0 +1,5 @@ +
A homebuilder is a contractor who improves residential real estate and who, in making such improvements, incorporates tangible personal property into the property improved.
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Contracts
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As a contractor, the homebuilder's sales and use tax responsibility depends upon the type of contract used. Contracts may be either lump-sum or separated contracts.
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Lump-sum Contracts - A lump-sum contract is a contract through which the price is billed as one lump-sum amount. The contract does not state a separate charge for the skill and labor from the materials incorporated into the work nor does the contract require invoices or progress billings, etc., to separately state these charges.
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Under a lump-sum contract, the homebuilder is considered the ultimate consumer \ No newline at end of file