Understanding how states apply sales tax to leasing transactions can have a material impact on a company's bottom line. Like everything else in state taxation, the lack of uniformity creates complexity, pitfalls, and opportunities.
Equipment leasing impacts just about every industry (i.e., manufacturing, auto dealers, transportation, construction, technology, service companies, etc.) and company whether they are the lessor or the lessee.
All types of capital equipment and software may be leased including:
- Manufacturing and mining machinery and equipment
- Vessels and containers
- Construction and off-road equipment
- Medical technology and equipment
- Commercial and corporate aircraft
- Rail cars and rolling stock
- Trucks and transportation equipment
- Business, retail and office equipment
- IT equipment and software
If you would like to obtain an introductory guide or list of potential issues and opportunities, please contact me at firstname.lastname@example.org.
LEARN MORE / ATTEND WEBINAR
I am pleased to announce that I will be speaking in an upcoming Strafford live phone/web seminar, "State and Local Tax Challenges With Leases of Equipment and Other Assets" scheduled for Thursday, June 27, 1:00pm-3:00pm EDT.
As long as you use the links in this post, you will be able to attend the program at half off. The offer will be reflected automatically in your cart.
Our panel will provide businesses with a review of important trends in the multi-state tax treatment of equipment and other asset leases. The discussion will include issues that have confronted lessors and lessees for years, some issues comparatively new on the scene, and some states' specific examples.
After our presentations, we will engage in a live question and answer session with participants so we can answer your questions about these important issues directly.
I hope you'll join us.
What questions would you like to be answered during the webinar?