Er, no.
Per
TITLE 34,
PART 1,
CHAPTER 3 TAX ADMINISTRATION,
SUBCHAPTER O
RULE §3.302 Accounting Methods, Credit Sales, Bad Debt Deductions, Repossessions, Interest on Sales Tax, and Trade-Ins
From Definitions:
(7) Trade-in--Tangible personal property taken by a seller as all or a part of the consideration for the sale of a taxable item when the property is of a type normally sold by the seller in the regular course of business, and the seller separately states the value of the property to the purchaser by means of an invoice, billing, sales slip, ticket, or contract.
(b) Accounting methods.
(1) Reporting sales and use tax. For sales and use tax purposes, retailers may use a cash basis, an accrual basis, or any generally recognized accounting basis that accurately reflects the operation of their business. A retailer who wants to use an accounting method to report tax that is not on a pure cash or accrual basis or that is not a generally recognized accounting method must obtain prior written approval from the comptroller.
(2) Reporting sales and use tax on rentals and leases. Paragraph (1) of this subsection does not apply to the reporting of sales and use tax on rentals and leases of tangible personal property. See §3.294 of this title (relating to Rental and Lease of Tangible Personal Property) for the accounting of rentals and leases.
(c) Credit sales.
(1) Service charges. Sales and use tax is due on insurance, interest, finance and carrying charges, and all other service charges incurred as a part of
a credit sale unless these charges are stated separately to the purchaser by such means as an invoice, billing, sales slip or ticket, or contract.
(2) Accounting methods. Except as provided by paragraph (D), sales and use tax must be reported on a credit sale based upon the accounting
method that the retailer uses for its regular books and records.
(A) Accrual basis. If a retailer uses an accrual basis of accounting for sales and use tax purposes, the entire amount of sales and use tax is due and
must be reported in the reporting period in which the sale occurs.
(B) Cash basis. If a retailer uses a cash basis of accounting for sales and use tax purposes, the payment received from the purchaser includes a
proportionate amount of sales and use tax, sales price, and may include finance charges. Sales and use tax is due and must be reported in the
reporting period in which the payment is received based upon the cash collected, excluding separately stated insurance, interest, or finance and
carrying charges.
(C) Modified basis. If a retailer uses an accounting method that is not a pure cash or accrual basis, sales and use tax must be reported in a
consistent manner that accurately reflects the realization of income from the credit sales on the retailer's books and records. The retailer must
obtain prior written approval from the comptroller to use an accounting method that is not a generally recognized method.
(D) Cash basis reporting option. A retailer who uses the accrual basis of accounting for its books and records may elect to use the cash basis of
accounting for sales and use tax reporting purposes as long as the retailer reports the tax in a manner that accurately reflects the realization of
income from cash and credit sales on the retailer's books and records. A change from the accrual basis to the cash basis for reporting sales and
use tax is prospective only, and the retailer must establish a procedure to accurately account for sales and use tax received from purchasers
during the transition period.
(3) Transfer or sale of sales contracts and accounts receivable. At the time a retailer sells, factors, or assigns to a third party the retailer's right to
receive all payments due under a credit sale, the unpaid sales and use tax on all remaining payments becomes due immediately. The retailer is
responsible for reporting all remaining sales and use tax due on a credit sale to the comptroller in the reporting period in which the contract or
receivable is sold, factored, or assigned. No reduction in the amount of sales and use tax to be reported and paid by the retailer is allowed if the
transfer to the third party is for a discounted amount. This paragraph does not apply to a retailer's assignment or pledge of contracts or accounts
receivable to a third party as loan collateral.
[/QUOTE]
Sales Tax collection follows rules set down in State Law, and the Comptroller's office is passing picky about those rules.
If you consign a firearm, you are not paying Sales Tax; the purchaser of that item pays the Retail Sales Tax. (The owner of the LGS might negotiate the sale price down if his profits will "pay" the Sales Tax owed--but, that's at his discretion.
See A-D above for how retailers account for various fees beyond the reported retail sale price.
