TAXES (GOODS)

Other Names: Applicable Taxes • Sales Taxes • Taxes and Related Costs • Taxes and Imports

Sample Clause Language:

All prices are exclusive of, and [BUYER] is responsible for all taxes, charges, fees, levies, imposts, duties, tariffs or other assessments imposed by or payable to any federal, state, local or foreign tax or governmental authority, including without limitation sales, use, goods, services, value added, transfer, customs, personal property, stamp duty, excise, withholding and other obligations of the same or similar nature (individually and collectively, “Taxes”); provided, however, that [BUYER] will not be responsible for any Taxes due on the net income of [SELLER]. If [SELLER] is required by Law to collect Taxes from [BUYER], [SELLER] may add any such Taxes to invoices submitted to [BUYER] by [SELLER].

Source: Rocky Mountain Chocolate Factory, Inc. (2019, December 23). Form 8-K. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml


 

Description:

Taxes clauses provide whether the price of goods include taxes, and who will be responsible for paying them. The sample clause here is drafted in favor of the seller and provides that the buyer will bear all taxes related to the purchase.

Common Contracts with this Clause:

  • Sale of Goods Agreement
  • Supply Agreement
  • Purchase Orders
  • Licensing Agreements
 

What you'll see with Lawgood:

Number of Positions Available:

Three (3) Alternative Positions

  • Favorable to Buyer
  • Favorable to Seller (Short Form)
  • Favorable to Buyer (Long Form)

Related Clauses:

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