Kentucky Administrative Regulations
Title 103 - FINANCE AND ADMINISTRATION CABINET - DEPARTMENT OF REVENUE
Chapter 27 - Sales and Use Tax; Miscellaneous Retailer Occupations
Section 103 KAR 27:040 - Finance companies
Universal Citation: 103 KY Admin Regs Service 27:040
Current through Register Vol. 50, No. 6, December 1, 2023
RELATES TO: KRS 139.010, 139.200
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; Crt eff. 6-7-2019.
STATUTORY AUTHORITY: KRS 131.130(1)
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