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• 5 <br /> 2. Where such products, including by-products,are extracted or manufactured for <br /> commercial or industrial use;and where such products,including by-products, are <br /> shipped,transported or transferred out of the city,or to another person,without prior sale <br /> or are sold under circumstances such that the gross proceeds from the sale are not <br /> indicative of the true value of the subject matter of the sale;the value shall correspond as <br /> nearly as possible to the gross proceeds from sales in this state of similar products of like <br /> quality and character, and in similar quantities by other taxpayers,plus the amount of <br /> subsidies or bonuses ordinarily payable by the purchaser or by any third person with <br /> respect to the extraction,manufacture,or sale of such products.In the absence of sales of <br /> similar products as a guide to value, such value may be determined upon a cost basis. In. <br /> such cases,there shall be included every item of cost attributable to the particular article <br /> or article extracted or manufactured,including direct and indirect overhead costs.The <br /> director may prescribe rules for the purpose of ascertaining such values. <br /> 3. Notwithstanding subsection 2 of this definition,the value of a product <br /> manufactured or produced for purposes of serving as a prototype for the development of a <br /> new or improved product shall correspond to (a)the retail selling price of such new or <br /> improved product when first offered for sale; or(b)the value of materials incorporated <br /> into the prototype in.cases in which the new or improved product is not offered for sale. <br /> "Value proceeding or accruing"means the consideration,whether money, credits, <br /> rights,or other property expressed in terms of money, a person is entitled to receive or <br /> which is actually received or accrued.The term shall be applied,in each case, on a cash <br /> receipts or accrual basis according to which method of accounting is regularly employed <br /> in keeping the books of the taxpayer. <br /> "Wholesaling"means engaging in the activity of making sales at wholesale,and is <br /> reported under the wholesaling classification. <br /> Section 2. Section 1 of Ordinance No.2810-04,as amended by Section 3 of Ordinance No. <br /> 3042-07,which reads as follows: <br /> 3.24.077 Allocation and apportionment of income when activities take place in more <br /> than one jurisdiction. <br /> Effective January 1,2008, gross income,other than persons subject to the provisions of <br /> Chapter 82.14A RCW,shall be allocated and apportioned as follows: <br /> A. Gross income derived from all activities other than those taxed as service or <br /> royalties under Section 3.24.050(A)(7)shall be allocated to the location where the <br /> activity takes place. <br /> B. In the case of sales of tangible personal property,the activity takes place where <br /> • <br /> delivery to the buyer occurs. <br /> C. Gross income derived from activities taxed as services and other activities taxed <br /> under Section 3.24.050(A)(7)shall be apportioned to the city by multiplying <br /> Page 14 Bf 56 <br />