Louisiana Revised Statutes 47:305.78 – The tax imposed by the political subdivisions of the state shall not apply to the lease, rental, or purchase of tangible personal property or services by the Edward Via College of Os
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Terms Used In Louisiana Revised Statutes 47:305.78
- lease: means the leasing of automobiles and the possession or use thereof by the lessee, for a consideration, without the transfer of the title of such property for a one hundred eighty-day period or more. See Louisiana Revised Statutes 47:301
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.
- Rental: means the renting of automobiles and the possession or use thereof by the renter, for a consideration, without the transfer of the title of such property for a period less than one hundred eighty days. See Louisiana Revised Statutes 47:301
The tax imposed by the political subdivisions of the state shall not apply to the lease, rental, or purchase of tangible personal property or services by the Edward Via College of Osteopathic Medicine (VCOM) if the lease, rental, or purchase is directly related to the educational mission of the institution.
Acts 2022, No. 85, §1, eff. July 1, 2022.