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BTLG Table of Contents > Sales and Use Tax Annotations > L > 330.0000 Leases Of Tangible Personal Property—In General > Annotation 330.2520

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

Annotation 330.2520

(a) In General

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330.2520 Option to Purchase Exercised After Expiration of Lease Term. A lease of a fixture is a lease of tangible personal property under section 6016.3 where the lessor has the right to remove property upon breach or termination, and the lessor is not the lessor of the realty. If, under the terms of the lease the lessee has an option to purchase the property, a sale of tangible personal property results when the option is exercised even if it is exercised after the expiration of the lease term. 4/1/68.