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 [email protected].
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.
Ask for State Taxes on Asset Leases on 6/27/2013
Mention code: ZDFCT
What questions would you like to be answered during the webinar?