Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Sales and Use Tax Annotations
330.0000 LEASES OF TANGIBLE PERSONAL PROPERTY—IN GENERAL—Regulation 1660
(b) RENTAL RECEIPTS—ITEMS INCLUDED AND EXCLUDED
330.3230 Damaged or Missing Equipment. Compensation received by a lessor from lessee for damaged or missing equipment is not considered a "sale" since there is no transfer of property to the lessee. (Section 6006 of the Revenue and Taxation Code.) This is true whether the leased property is purchased tax paid or the lessor is paying tax on rental receipts. 1/18/91.