103 KAR 27:040. Finance companies.

 

      RELATES TO: KRS 139.010, 139.200

      STATUTORY AUTHORITY: KRS Chapter 13A

      NECESSITY, FUNCTION, AND CONFORMITY: To interpret the sales and use tax law as it applies to sales of tangible personal property by finance companies.

 

      Section 1. Sales of tangible personal property by a finance company as a result of a default of payments by a customer are subject to the sales or use tax when such property is sold to a consumer. (SU-58; 1 Ky.R. 230; eff. 1-8-75; Tam eff. 5-20-09.)