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BTLG Table of Contents > Sales and Use Tax Annotations > L > 330.0000 Leases Of Tangible Personal Property—In General > Annotation 330.2880

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330.0000 Leases of Tangible Personal Property—In General—Regulation 1660

Annotation 330.2880

(a) In General

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330.2880 Subleases—Leased in Substantially the Same Form as Acquired. When a lessor purchases property with tax paid on the purchase price and leases it in substantially the same form as acquired to a lessee who in turn subleases the property, the sublessor (first lessee) is not required to collect and pay tax on the rental receipts received under the sublease. A lessor may, however, purchase property under a valid resale certificate and collect and pay tax on his rental receipts, and his lessee likewise may give a valid resale certificate to the first lessor and pay tax on his receipts under a sublease. 8/18/65.