Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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495.0000 SALE

Annotation 495.0340


495.0340 Leaseback of Equipment in Place. A manufacturer of wood products entered into a transaction in 1964 pursuant to which it transferred title to plant equipment in place and the transferee leased back the equipment. Although the purpose of the transaction was to obtain funds and the equipment was never moved, the transfer was not a loan, but a taxable retail sale. 2/23/68.