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
330.3625 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.