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Do leases qualify for the business expense deduction or the sales or use tax credit?

April 26, 2017Business deduction expense leases qualify sales tax credit

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Do leases qualify for the business expense deduction or the sales or use tax credit?

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Yes. If you acquired the property through a leasing arrangement that constitutes a financial (conditional sales) contract, the property may qualify for the business expense deduction, or the sales or use tax credit, or both.