Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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475.0000 RESALE CERTIFICATES—Regulation 1668

Annotation 475.0238

475.0238 Sale of Laundry for Resale. A firm purchases a laundry with the intent of selling it. It operates the laundry for six months while it is seeking a buyer. Since the firm intended to operate the laundry while looking for a purchaser, it may not issue a resale certificate for the laundry equipment or opt to report tax on fair rental value on the theory that it is demonstrating and displaying the equipment while holding it for resale. 5/16/97.