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OSG Tax Tips

OSG is here to be your Tax Solution resource. The information in this section is compiled from industry, State & Local as well as OSG resources to better help our clients with their tax related questions.


Leasing Tips
  1. The Language of Leasing
  2. The refinancing of debt through a financial agreement that is labeled as a sale/leaseback did not constitute an actual lease subject to Arizona transaction privilege (sales) tax on leases, but it was a nontaxable loan.
  3. A petitioner was not entitled to a refund of a portion of New York sales tax that was prepaid at the inception of a vehicle lease, even though the petitioner subsequently relocated to California. Thatís because there was no claim or evidence that the tax was erroneously,  illegally, or unconstitutionally collected or paid.
  4. In Maine, lessors in the business of renting furniture, audio tapes, and audio equipment are not required to pay sales tax on the purchase of these items for lease.
  5. Massachusetts discusses taxation of sale-leaseback transaction.
  6. Kansas restricts trade in deduction on leased vehicles.
  7. _tips
  8. Additional services are deemed part of lease agreement and subject to tax in Texas.
  9. Hawaii recently reversed their prior position on leases, which used the title passage as the sole criterion in taxing leases.
  10. Sales Tax on Leases


Note:
  The information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance. 
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