Section R15-5-1512. Lease -- Purchase Agreements

Latest version.

All data is extracted from pdf, click here to view the pdf.

A. A lessor’s gross income from the leasing of tangible personal property that includes an option to purchase the tangible per- sonal property is taxable under the personal property rental classification until the lessee exercises the purchase option.

B. Gross income received after the lessee exercises the purchase option is taxable under the retail classification.

Historical Note

Amended by final rulemaking at 6 A.A.R. 3091, effective July 18, 2000 (Supp. 00-3).

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');