103 KAR 27:040. Finance companies.
RELATES TO: KRS 139.010, 139.200
STATUTORY AUTHORITY: KRS 131.130(1)
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. 1-8-1975; Tam eff. 5-20-2009; TAm eff 6-22-2016.)