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Taxes are assessed or paid differently, depending on the transaction at hand. We've detailed the most common scenarios below, along with how CT&L addresses the taxes in each.
Leases
CT&L leases will include sales and/or use tax on the lease rental charges based on the equipment location and the sales tax rate in effect at the time of the invoice date. For leases with multiple equipment locations, the rate will be calculated for each location based upon the rental charge and effective tax rate for that location.
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Sale/LeaseBack Transactions
CT&L cannot reimburse you for tax already paid on equipment purchased. CT&L will purchase the equipment at Fair Market Value, and sales and/or use tax will be assessed as noted above for the duration of the lease.
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Equipment Sales
Sales of new, and/or pre-leased equipment will include sales tax if CT&L is already registered with the state revenue agency to which the equipment is being shipped. However, CT&L is not registered in every state, so tax charges may not apply in all cases. If you have a question as to whether or not taxes may apply to your transaction, please ask your Sales Representative or email Linda M. Delay.
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Tax Exempt Transactions
If your lease or sale is being executed on behalf of a tax-exempt organization or individual, please contact Linda M. Delay prior to the transaction. Please be prepared to provide proof of state tax-exempt status for the state in which the leased equipment will reside, or where the equipment is shipping. The organization or individual name on the order must exactly match the state tax-exempt certificate. Federal tax exemption certificates are not accepted.
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