Section R15-5-2313. Lease-purchase Agreements

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A. Purchase payments made after conversion from a lease to a purchase of tangible personal property are subject to use tax unless the lease-purchase transaction is subject to the transac- tion privilege tax.

B. The purchase price of tangible personal property includes con- version charges paid or incurred at the time the lease is con- verted to a purchase.

Historical Note

Former Section R15-5-2313 repealed, new Section R15- 5-2313 adopted effective September 29, 1993 (Supp. 93-

3). Amended by final rulemaking at 12 A.A.R. 4099,

effective December 4, 2006 (Supp. 06-4).

                    
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