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BTLG Table of Contents > Transactions and Use Tax Annotations > 800.0000 Application of Transactions (Sales) Tax and Use Tax > Annotation 800.0032

Transactions and Use Tax Annotations

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800.0000 Application of Transactions (Sales) Tax and Use Tax—Regulation 1823

Annotation 800.0032

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800.0032 Property Obligated Under Lease Agreement. A box on a lease agreement above the signature lines includes a provision that states: "This is a noncancelable lease agreement for the term shown above." The agreement also provides for a specific amount of tax per month. The agreement is a fixed price lease agreement. Therefore, a newly enacted transactions and use tax would not apply to the lease payments. 10/24/89.