Rhode Island Code of Regulations
Title 280 - Department of Revenue
Chapter 20 - Division of Taxation
Subchapter 70 - Sales and Use Tax
Part 36 - Pawnbrokers and Auctioneers (280-RICR-20-70-36)
Section 280-RICR-20-70-36.5 - Pawnbrokers
Universal Citation: 280 RI Code of Rules 20 70 36.5
Current through September 18, 2024
A. Pawnbrokers are primarily engaged in the business of lending money for the repayment of which they accept as security tangible property from the owner or pledger.
B. In case the pawner or pledger does not redeem the property pledged or pawned within specified statutory time, such property is forfeited to the pawnbroker, to whom title thereto passes at such time.
C. Where pawnbrokers thereafter sell such articles at retail they are making sales within R.I. Gen. Laws Chapter 44-18, and must collect and remit the tax thereon.
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