How is it determined if sales or a use tax is collected on the lease of a motor vehicle?
A. The location of the dealership determines if a sales tax or a use tax is paid. Both the dealership and customer must be located in Arapahoe County to collect a sales tax on the monthly lease payments, otherwise Arapahoe County use tax is collected and remitted to the Clerk & Recorder for registration. The use tax must be paid up front, in full based upon the capitalized cost minus the residual value, which is the taxable amount. Q.
Related Questions
- Since the sales and use tax exemption for sales of motor vehicle fuel is only a partial tax exemption, which sales and use taxes still apply when motor vehicle fuel is sold at retail?
- How is it determined if sales or a use tax is collected on the lease of a motor vehicle?
- Are sales of motor vehicle fuel exempt from sales and use tax?
