Internal Revenue Service
Revenue Ruling
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Rev. Rul. 56-253
1956-1 C.B. 504
Full Text
Rev. Rul. 56-253
Where automobile truck trailers are sold by the manufacturer under conditional
sales contracts and the manufacturer discounts the contracts by the sale thereof
to a finance company, the tax becomes due and payable on the entire amounts
receivable under the contracts regardless of the fact that lesser amounts are
actually received by the manufacturer from the finance company.
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