§ 44-18-27 - Tax on rental income to retailer.
SECTION 44-18-27
§ 44-18-27 Tax on rental income toretailer. – If the sole use of the property, other than retention, demonstration, ordisplay in the regular course of business, is the rental of the property whileholding it for sale or rental, the purchaser or lessor may elect to pay the taxas measured by the cost of the property to him or her. The election isexercised by payment of the sales tax to the seller or by filing the requireduse tax return on or before the due date. Upon a subsequent sale of theproperty, the person making the sale shall include the full amount of theselling price in his or her gross receipts and shall pay the tax on theproperty.