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Can you charge a sales tax on personal property tax passed down from a lessor?
Wiki User
∙ 13y ago
It depends on the state.
Owners of equipment often have to pay property tax on the equipment. If an owner of leases that property, the owner will often separately bill their customer for a pro-rata share of the property tax.
Although it sounds like the customer is paying the owner's taxes, it really isn't any different than what customers do everyday. When someone buys a car, they pay for not only the car parts, but also for a pro-rata share of the manufacturer's costs of doing business -- salaries of the automotive workers, assembly line equipment, and yes, even the property tax costs on the manufacturing plant. The price of the car has all of those costs embedded in it.
Equipment lessors sometimes chose to itemize the property tax rather than imbed the charges into their base rental prices.
Whether the charge is subject to sales tax or not, depends on the state involved. Some states would view the charge as just another component of the rental price, while others might not.
Wiki User
∙ 13y ago
It depends on the specific tax laws in your jurisdiction. In some cases, sales tax may apply to the transaction of passing down personal property tax if it meets the criteria for taxable transactions set by the tax authority. It's recommended to consult a tax professional or local tax authority to determine the tax implications in your situation.
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Can I be charged sales tax on personal property tax passed down from a lessor in the state of South Carolina?
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.
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