Ariz. Admin. Code § 15-5-1512

Current through Register Vol. 30, No. 24, June 14, 2024

Section R15-5-1512 - Lease - Purchase Agreements

A. A lessor's gross income from the leasing of tangible personal property that includes an option to purchase the tangible personal property is taxable under the personal property rental classification until the lessee exercises the purchase option.

B. Gross income received after the lessee exercises the purchase option is taxable under the retail classification.

Ariz. Admin. Code § R15-5-1512

Amended by final rulemaking at 6 A.A.R. 3091, effective July 18, 2000 (Supp. 00-3).