God has always provided for the needs of Grace Bible Church through the generous and faithful giving of our Members and friends. It is because of this that we take great care to manage our finances in a way that is always in line with our mission as a Church and is in compliance with the tax-exempt status we receive as a religious institution.
For a more thorough understanding of our financial management standards and practices, refer to our Finance Policy is partially excerpted from our Elder Handbook and expanded to describe the funds and approval processes related to them.
A taxable item that is purchased for resale is exempt from sales or use tax if the seller accepts a properly completed Form 01-339, Texas Sales and Use Tax Resale Certificate (PDF), instead of collecting the sales tax due. The resale certificate is the seller’s evidence as to why sales tax was not collected on that transaction and should be retained in the seller’s books and records for four years. Texas taxpayer ID #17460729662
State hotel occupancy tax applies to charges of $15 or more per day for sleeping accommodations, meeting rooms and banquet rooms in a hotel or motel. The tax also applies to lodging at bed and breakfasts, condominiums, apartments and houses rented for less than 30 consecutive days. The state hotel tax rate is 6 percent. Texas taxpayer ID #17460729662