Statutes, codes, and regulations
Arizona Administrative Code
Title 15 - REVENUEChapter 5 - Department of Revenue - Transaction Privilege and Use Tax Section
Article 1 - RETAIL CLASSIFICATION
Section R15-5-110 - Lease-purchase Agreements

Ariz. Admin. Code § 15-5-110

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Current through Register Vol. 30, No. 50, December 13, 2024
Section R15-5-110 - Lease-purchase Agreements
A. Gross income derived from the leasing of tangible personal property under a lease-purchase agreement is subject to tax under the personal property rental classification.
B. Payments received after the conversion from a lease to a purchase are subject to tax under the retail classification.
C. Gross receipts from the sale of tangible personal property include conversion charges paid or incurred at the time the lease is converted to a purchase.

Ariz. Admin. Code § R15-5-110

Renumbered from R15-5-1809 and amended effective August 9, 1993 (Supp. 93-3). Amended by final rulemaking at 12 A.A.R. 4099, effective December 4, 2006 (Supp. 06-4).