Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Uniform Local Sales and Use Tax Annotations
715.0000 AIRCRAFT COMMON CARRIERS AND WATERBORNE VESSELS—Regulation 1805
(a) MATTERS COMMON TO BOTH CATEGORIES
715.0120 Leases. The exemption requirements are not met if the exempt property is leased to someone by the purchasing carrier. It is immaterial that the property may be used by the lessee in operations which fall within the scope of Regulation 1805. The exemption controlling factor is that the carrier did not use the property in its own operations as such and thus, did not meet the requirements of the regulation. 2/28/67; 10/25/89.