Ohio Supreme Court

Ohio Sales & Use Tax: Resale exemption denied where lease amongst related parties lacked a substantive business purpose.

Businesses commonly use what is referred to as a “dry lease” to obtain use of a corporate aircraft for several reasons. One benefit of these arrangements is the lessor’s ability to claim the resale exemption on the aircraft’s purchase, with tax only being owed on lease payments received for use in a particular state. However,... Read More