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I have a question for NYS Sales Tax with the business in…

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I have a question for NYS Sales Tax with the business in Suffolk County?

Accountant's Assistant: What state are you in? It matters because laws vary by location.

New York State and Suffolk County

Accountant's Assistant: Has anything been filed or reported?

I have a business in Suffolk County in NY state which leases heavy duty machinery and equipment for manufacturing to another entity in Suffolk County. I have searched on Pub 750 for the sales tax law for leasing equipment for manufacturing and cannot find anything. I want to know if tmy lease machinery activity is subject to Sales Tax State and Suffolk and if so how much and where i can check the Pub 750 to confirm it?

Submitted: 2 months ago.Category: Tax
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Answered in 28 minutes by:
12/21/2017
Tax Professional: Barbara, Enrolled Agent replied 2 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,833
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

The LEASING of the machinery and equipment is subject to sales tax, but the SALE of machinery and equipment is not.

See the following:

https://www.tax.ny.gov/pubs_and_bulls/tg_bulletins/st/quick_reference_guide_for_taxable_and_exempt_property_and_services.htm

http://www.lorman.com/resources/sales-tax-and-the-new-york-construction-industry-equipment-rentals-and-leases-14772

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Tax Professional: Barbara, Enrolled Agent replied 2 months ago

Just following up with you to see if you have any other questions. If so, please let me know so I can continue to assist you.

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Barbara
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