1505. PERMIT REQUIRED FOR NEW OR EXPANDED FACILITY TAX RATE - APPLICATION.

A person may pay the contractor’s excise tax pursuant to Section 1504 if the person applies for and obtained a permit from the secretary at least thirty days prior to commencement of the project. The application for a permit shall be submitted on a form prescribed by the Tax Commission. A separate application shall be made and submitted for each project. Upon approval of the application, the Tax Commission shall issue a permit to the applicant. The permit is not assignable or transferable except as collateral or security pursuant to appropriate law.