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Gross receipts shall include the total amount of the sale price of all sales and the <br />total amount charged or received for the performance of any act or service of whatever <br />nature it may be, for which a charge is made or credit allowed, whether or not such act <br />or service is done as a part of or in connection with the sale of materials, goods, wares <br />or merchandise. The following shall be included in "gross receipts": all receipts, rents, <br />cash, credits and property of any kind or nature, without any deduction therefrom on <br />account of the cost of property sold, the cost of materials used, labor or service cost, <br />interest paid or payable, or losses or other expenses whatsoever. <br />The following shall be excluded from "gross receipts": <br />(a) Cash discounts allowed and taken on sales; <br />(b) Credit allowed on property accepted as part of the purchase price and <br />which property may later be sold; <br />(c) Any tax required by law to be included in or added to the purchase price <br />and collected from the consumer or purchaser; <br />(d) Such part of the sale price of property returned by purchasers upon <br />rescission of the contract of sale as is refunded either in cash or by credit; <br />(e) Amounts collected for others where the business is acting as an agent or <br />trustee to the extent that such amounts are paid to those for whom <br />collected, provided the agent or trustee has furnished the collector with the <br />names and addresses of the others and the amounts paid to them, other <br />than amounts received as commissions or fees earned, or charges of any <br />character made or compensation of any character received for the <br />performance of any service as agent or trustee, provided that any agent or <br />trustee dealing in stocks or other similar written instruments evidencing a <br />right to participate in the assets of any business, or dealing in bonds or <br />other evidences of indebtedness, who also deals in such property as a <br />principal, shall include in the gross receipts by which the tax is measured <br />the amount of his or her trading profits resulting therefrom. No deduction <br />from receipts attributable to trading as a principal shall be made unless <br />such deduction is provided for in this section; <br />(f) The difference between the balance owed and paid on a defaulted <br />purchase or finance contract upon repossession by seller and the amount <br />received from resale of the repossessed article by the repossessing seller; <br />(g) Receipts of refundable deposits, except that refundable deposits forfeited <br />and taken into income of the business shall not be excluded; <br />Page 3 <br />11 A-5