0
Can I be charged sales tax on personal property tax passed down from a lessor in the state of South Carolina?
Wiki User
∙ 11y ago
In South Carolina, personal property tax is typically not subject to sales tax when it is passed down from a lessor. However, it's important to consult with a tax professional or the South Carolina Department of Revenue for specific guidance based on your unique situation.
Add your answer:
Earn +20 pts
Who is the lessor and lessee?
lessor is the owner of property
Is the lessor the landlord or the tenant?
Tenant and lessee are the same thing, they are a person who rents property from a lessor who own property that he wants to lease.
What is a lessor?
A lessor is a person or business that rents dwellings to individuals and families. The lessor is typically an owner of the property or an agent of the owner of property. Lessors also rent office and business space to lessees.
What happens to a written lease agreement when the land owner conveys the land to another person?
If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.
What are the motivating factors for a lessor and a lessee?
The lessor has income producing property available and the lessee needs to rent residential or commercial space.
The bundle of rights remaining with the lessor after the execution of a lease of an immovable property is called as what?
Ownership Rights.
What is another name for renter?
The legal synonym of "Rent to Own" is "Lease with Option to Purchase". It is a contract or agreement between a property owner and a lessor/buyer to lease a property for a certain period of time, after which the lessor/buyer has the option to purchase the property.
What is a sale and leaseback?
A leasing package wherein the lessee sells presently-owned equipment to the lessor to convert fixed asset into cash with the lessor allowing the lessee to retain the full use of the property for a fee over a specified period of time.
What is an essential element of a lease conveyance?
An essential element of a lease conveyance is that the lessor conveys less than his or her total interest in the property
Is a sign a leasehold improvement?
No, because Leasehold Improvements revert to the lessor at the expiration of the lease term and a sign does not "improve" the leased property.
Is a sign a leasehold improvements?
No, because Leasehold Improvements revert to the lessor at the expiration of the lease term and a sign does not "improve" the leased property.
What is general liability and lessor's risk?
Lessor's Risk Only (LRO) provides liability and property coverage for building owners who lease out their entire building or occupy less than 75% of the building and lease out the remainder. Also called landlord's insurance.
