Sales and Use Tax South Carolina lease

[JackBrothers]

I am of the understanding that when a company (us) leases a piece of equipment to another company (H2) in South Carolina then we immediately sell the lease to another company (CIT), the funding company (CIT) is responsible for the Sales and Use taxes. The only Sales and Use taxes I can think that we owe is the money we made selling the lease to the company (CIT) in Florida.

I can not locate the law that states this. Do you know the law or where I could locate this information?

 

[davew128]

I have no idea what you're talking about as you're all over the place. Sales and use tax is collected on a lease depending on where the lease is considered to occur. If you sold the lease, your profit on the sale of the lease has nothing to do with sales and use tax whatsoever. Your obligation to collect and remit sales tax on the lease ends when you are no longer the lessor.