TITLE 15. TAXATION

CHAPTER 68. SALES TAX

Part 2. Nontaxable Transactions and Exemptions

Nontaxability -- Lease For Subsequent Lease

15-68-210. Nontaxability -- lease for subsequent lease. The lease of property is nontaxable if:

(1) the lease is made to a lessee who delivers a nontaxable transaction certificate; and

(2) the lessee does not use the property in any manner other than for subsequent lease in the ordinary course of business.

History: En. Sec. 14, Ch. 544, L. 2003.