West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-15 - Consumer Sales And Service Tax And Use Tax
Section 110-15-61 - Pawn Brokers
Universal Citation: 110 WV Code of State Rules 110-15-61
Current through Register Vol. XLI, No. 38, September 20, 2024
61.1. Pawnbrokers are primarily engaged in the business of lending money, for the payment of which they accept personal property as security. If the pledgor redeems the merchandise within the allotted amount of time, the charge made by the pawnbroker is considered to be interest and is not subject to sales tax.
61.2. In case the pledgor does not redeem the property pledged or pawned, such property is forfeited to the pawnbroker, to whom the title passes.
61.3. When pawnbrokers thereafter sell such articles, they are making sales subject to the sales and service tax.
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