Section 40-12-220 Definitions. For purposes of this article, the following terms shall have the respective meanings ascribed by this section: (1) BUSINESS. All activities engaged in, or caused to be engaged in, by any person with the object of gain, profit, benefit, or advantage, either direct or indirect to such person. (2) COMMISSIONER. The Commissioner […]
Section 40-12-220.1 Legislative intent. It was the intent of the Legislature in enacting Sections 40-12-220 to 40-12-227, inclusive, to impose a license tax or privilege tax on lessors based on the gross proceeds derived from the leasing or rental of tangible personal property. It is also the intent of the Legislature to permit lessors of […]
Section 40-12-221 License required. If any person shall engage in or continue in any business for which a privilege tax is imposed by Section 40-12-222 as a condition precedent to engaging or continuing in such business, he shall apply for and obtain from the department a license to engage in and to conduct such business […]
Section 40-12-222 Levy and amount of tax. (a)(1) In addition to all other taxes now imposed by law, there is hereby levied and shall be collected a privilege or license tax on each person engaging or continuing within this state in the business of leasing or renting tangible personal property at the rate of four […]
Section 40-12-223 Exemptions. There are exempted from the computation of the amount of the tax levied, assessed, or payable under this article all of the following: (1) The gross proceeds accruing from the leasing or rental of a film or films to a lessee who charges, or proposes to charge, admission for viewing the film […]
Section 40-12-224 Collection of tax. The provisions of this article shall be administered and the tax herein levied shall be collected in accordance with the procedures set forth in Article 1 of Chapter 23 of this title for administering and collecting the tax therein levied, and for such purposes there are hereby incorporated into this […]
Section 40-12-226 Deposit in State Treasury. All taxes or other funds received or collected by the department under the provisions of this article shall be deposited in the State Treasury without delay. (Acts 1971, 1st Ex. Sess., No. 96, p. 166, §7.)
Section 40-12-227 Disposition of funds. The total proceeds of the taxes or other funds deposited in the State Treasury pursuant to Section 40-12-226 remaining after payment of the expenses of administration and enforcement of this article shall be distributed to the State General Fund. (Acts 1971, 1st Ex. Sess., No. 96, p. 166, §8; Acts […]
