Do I pay taxes on the value of equipment that I lease to someone else?

post Category: Equipment Leasing — admin @ 1:00 am — post
postOctober 2, 2009

Normally our company resells things, and we don’t have to pay taxes on it as a reseller. However, if we are leasing it, it is still on our books. Do we have to pay tax on it as an asset or does leased equipment that someone else is using show up somewhere else?
We don’t pay taxes on things when we buy them (as long as they are items we will be reselling) because as a reseller we are tax exempt.

if you lease and charge taxes on it which most do then yes you have to pay taxes
i assume you already payed taxes on equipment when you bought it

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#1

if you lease and charge taxes on it which most do then yes you have to pay taxes
i assume you already payed taxes on equipment when you bought it
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gina wrote on October 2, 2009 - 6:49 am
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