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
330.3533 Property Taxes Where Financial Corporation is Lessor. Personal property taxes assessed against property leased by financial corporations are the responsibility of the lessees and are not part of the taxable rental receipts of the lessor. Financial corporations, since 1981, are the same as banks. Both banks and financial corporations are exempt from personal property taxes. Therefore, such taxes are the responsibility of the lessee. 1/27/89.