§ 51202. Definitions
TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 51202. Definitions. (a) “Gross Revenue” means the total amount of money or the value received from a transaction as defined in 4 CMC § 1103 (k). (b) “Person” means any individual, estate, firm, corporation, company, joint venture, association, partnership, trust, receiver, club, syndicate, cooperative association or any other entity. (c) “Sale Receipt” means an accurate record of a gross revenue producing sale transaction, produced by a cash register or electronically or digitally operated machine or device or by a written document, that accounts for all gross revenue received from the sale, preserves a record of the sale for inspection by the Department of Finance’s Division of Revenue and Taxation, and generates a record of the sale for issuance to the customer or client. (d) “Sale” means the transferring, giving or exchanging of personal or real property or services of any kind for an agreed sum of money or other valuable consideration and includes the use of any of the goods, merchandise or commodi- ties specified in 4 CMC § 1402. Source: PL 13-26, § 3.
Source: CNMI Law Revision Commission