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 330.3625

(b) RENTAL RECEIPTS—ITEMS INCLUDED AND EXCLUDED

330.3625 Video Rentals—Late Fees and Processing Fees. A video rental store charges members a late fee of $1.50 per day when a video is returned late. If a person wishes to rent videos but is unable or unwilling to present a drivers license and a major credit card, they may still become a member if they pay a one-time non refundable processing fee of $3.00.

Both fees are considered part of gross receipts under section 6012 of the Sales and Use Tax Law. The late fee is in reality a rental fee for the continued use of the video. The processing fee is part of the gross receipts that is received for renting videos. 7/8/93.