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BTLG Table of Contents > Sales and Use Tax Annotations > L > 330.0000 Leases Of Tangible Personal Property—In General > Annotation 330.2523

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

Annotation 330.2523

(a) In General

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330.2523 Option to Purchase—Selling Price. Late charges and property tax payments required to be paid by the delinquent lessee at the time the lessee exercises the option to purchase leased property at the end of the lease period are not part of the consideration paid to obtain title to the property. The late charges and property tax reimbursement due and owed to the lessor are amounts which the lessee is contractually required to pay as part of the lease agreement. Such amounts are payable without regard to whether the option is exercised. 3/15/90.