Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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L

330.0000 LEASES OF TANGIBLE PERSONAL PROPERTY—IN GENERAL—Regulation 1660

Annotation 330.1874.750

(a) IN GENERAL

330.1874.750 Early Buyout on Tax-Paid Lease. Upon a lessee's exercise of an option to purchase leased equipment, irrespective of whether the lease is a tax-paid lease or a continuing purchase and sale, the entire amount paid to the lessor/seller for the equipment is subject to tax, whether that buyout amount is determined with reference to what would otherwise have been lease payments or determined in any other manner. 2/2/98. (M99–2).