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BTLG Table of Contents > Sales and Use Tax Annotations > L > 330.0000 Leases Of Tangible Personal Property—In General > Annotation 330.2179

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330.0000 Leases of Tangible Personal Property—In General—Regulation 1660

Annotation 330.2179

(a) In General

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330.2179 Election to Report on Cost. For property leased in substantially the same form as acquired, payment of tax measured by the purchase price at the time the property is acquired constitutes an irrevocable election not to pay tax measured by the rental receipts. The lessor may not change his election by reporting tax on rental receipts on his return for the period the property is first placed in rental and claiming a tax paid purchases resold deduction. 5/13/69; 5/20/96.