Okla. Admin. Code § 710:65-18-4

Current through Vol. 42, No. 3, October 15, 2024

Section 710:65-18-4 - Sourcing for lease or rental of tangible personal property

(a) For a lease or rental of tangible personal property:

(1) Where the lease or rental requires recurring periodic payments:

(A) The first payment will be sourced as set out in 710:65-18-3.

(B) For those payments made after the first payment, the payment will be sourced to the "primary property location", as defined by 710:65-18-2, for each period covered by the payment. The periodic rental or lease payments shall be sourced to the primary property location even though the property may be used intermittently at different locations.

(2) Where the lease or rental does not require periodic payments, the payment is sourced in accordance with the provisions of 710:65-18-3.

(3) Where the lease or rental is based on a lump sum or accelerated basis, the payment is sourced in accordance with the provisions of 710:65-18-3.

(b) This Section does not apply to motor vehicles, trailers, semitrailers, aircraft and "transportation equipment" as defined in OAC710:65-18-2.

Okla. Admin. Code § 710:65-18-4

Added at 21 Ok Reg 2581, eff 6-25-04; Amended at 29 Ok Reg 542, eff 5-11-12