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Business Taxes Law Guide—Revision 2024
Sales and Use Tax Annotations
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330.0000 Leases of Tangible Personal Property—In General—Regulation 1660
Annotation 330.3010
(a) In General
330.3010 Transferee's Lease of Property. The fact that a transferor was not required to hold a seller's permit does not preclude his transferee's subsequent rental of the property from qualifying for the leasing sale exclusion provided by Revenue and Taxation Code section 6006(g)(5)(A). Under this provision of the law the transferee retains the tax status previously enjoyed by the transferor if the rental property transferred represented all or substantially all of the assets held in the transferor's business activity and the real or ultimate ownership after the transfer was substantially similar to that which existed before such transfer. 1/7/71.