A general adjuster from a major carrier I met with last week told me that New York insureds are not entitled to sales tax in an estimate if the area/room being estimated is a total loss. Insureds can only claim sales tax for areas/rooms that contain partial repairs. Repairs in areas of a damaged residence/building that are total losses (complete tear-out and replacement of all construction materials) are considered "capital expenditures" and not subject to sales tax.
Can any other NY staff, independent or public adjuster verify or confirm this as being true?
Sales Tax in New York State
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Posted - 09/13/2002 : 15:10:52
