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 330.2300

(a) IN GENERAL

330.2300 Lease of Equipment Acquired Ex-Tax. The lease of equipment, acquired ex-tax, as a part of a partnership dissolution, is regarded as a continuing sale. Thus, the lease of the equipment is subject to use tax measured by the rentals payable, which the lessor must collect and pay to the state. 5/8/90.