Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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L

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

Annotation 330.2286

(a) IN GENERAL

330.2286 IRS and FTB Definition of a True Lease. The revenue procedures and rulings of the Internal Revenue Service and the Franchise Tax Board do not control the application of the California Sales and Use Tax Law. Thus, the IRS and FTB definition of a "true lease" have no authority and are irrelevant as to sales and use tax issues. The IRS and FTB positions do not control whether a transaction is subject to sales and use tax. 4/30/98. (M99–1).