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BTLG Table of Contents > Sales and Use Tax Annotations > L > 330.0000 Leases Of Tangible Personal Property—In General > Annotation 330.2760

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

Annotation 330.2760

(a) In General

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330.2760 Reversionary Interest—Sale of. The transfer of the reversionary interest in leased equipment by the lessor to a person, who continues to lease the equipment to the same lessee and collects use tax measured by rental receipts, is exempt from sales tax as a sale for resale. 4/14/70.