Ordinance 3711-19 - Laserfiche WebLink

3. No ownership rights may be conferred to the agent unless the principal refuses to pay or refuses to abide by the agency agreement. Sales or purchases of any goods by a person who has any ownership rights in such goods shall be taxed as retail or wholesale sales. 4. Bulk goods sold or purchased on behalf of a principal must not be comingled with goods belonging to another principal or lose their identity as belonging to the particular principal. Sales or purchases of any goods which have been comingled or lost their identity as belonging to the principal shall be taxed as retail or wholesale sales. B. If the above requirements are not met,the consignor, bailor, principal or other shall be deemed a seller of such property to the agent, consignee, bailee, factor or auctioneer. C. Services in Own Name—Procuring Services as Agent. For purposes of this subsection, an agent is a person who acts under the direction and control of the principal in procuring services on behalf of the principal that the person could not itself render or supply. Amounts received by an agent for the account of its principal as advances or reimbursements are exempted from the measure of the tax only when the agent is not primarily or secondarily liable to pay for the services procured. Any person who claims to be acting merely as agent in obtaining services for a principal will have such claim recognized only when the contract or agreement between such persons clearly establishes the relationship of principal and agent and when the following conditions are complied with: 1. The books and records of the agent show that the services were obtained in the name and for the account of the principal, and show the actual principal for whom the purchase was made. 2. The books and records show the amount of the service that was obtained for the principal,the amount of commissions and any other income derived by the agent for acting as such. Amounts received from the principal as advances and reimbursements must not be reflected as the agent's income on any of the agent's books and records. Commissions must be computed according to a set percentage or amount, which is agreed upon in the agency agreement. (Ord. 2810-04 § 1 (part), 2004) 3.24.045 Code clarification. A. Findings and Purpose.The city of Everett,the state of Washington,the Port of Everett, and the Boeing Company on December 19, 2003, entered into the "Project Olympus Master Site Development and Location Agreement" concerning the location in the city of the facility for the manufacturing of the aircraft commonly referred to as the 7E7.The purpose of said agreement was to assist Boeing in obtaining a suitable site including buildings, related facilities, infrastructure, and other improvements for the location of the final assembly of the 7E7 aircraft and other operations related thereto. As a result of diligent good faith negotiations,the city and Boeing have agreed on a business and occupation tax reduction to be permanent for the calendar years 2006 through 2023. During such period the city agrees not to suspend, revoke, or require repayment of such reduction as authorized by its business and occupation tax reduction; provided, that final assembly of the 7E7 aircraft begins by December 31, 2007. The rate reduction by the city is intended by the parties to create an estimated net present value reduction of approximately thirty-five million dollars, which amount is calculated using a six percent ma mg 2019 ORDINANCE: Business and Occupation Tax Page 19 of 40