When I become tax exempt do I have to pay tax on l

[Sterling_owner]

I filed for my PUCO/MC/what ever else I need on Friday. I will then be tax exempt for truck purchases, tires, oil, etc. I started my lease in '99 after I become tax exempt do I still need to pay tax on my lease? Thanks.

2 1999 Sterling Semis
2000 Ford F650 24ft box truck

 

[Fkatz]

RE: When I become tax exempt do I have to pay tax

Sterling Owner
I am not sure of this, but since the original lease was made in prior years, plus I do not think that only having 3 trucks can give you tax exempt status, I do not know Michigan laws on this aspect. I would say the you would still have to pay the sales tax on them. If you were to buy now then I would say yes, but not on the other.

Normally when you apply for tax exempt status in any state, it is only used as if you were purchasing for resale, which you are not, better check with the state you live in. otherwise you might be in tax trouble both ways. federal and state.

Frank