If a purchaser who gives a certificate makes any storage or use of the property other than retention, demonstration or display while holding it for sale in the regular course of business, the storage or use is taxable as of the time the property is first so stored or used. If the sole use of the property, other than retention, demonstration or display in the regular course of business, is the rental of the property while holding it for sale, the purchaser shall pay the tax on the use measured by the amount of the rental charged rather than the sales price of the property to him.
Effective: August 1, 1985
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Terms Used In Kentucky Statutes 139.430

  • Business: includes any activity engaged in by any person or caused to be engaged in by that person with the object of gain, benefit, or advantage, either direct or indirect. See Kentucky Statutes 139.010
  • Sale: includes but is not limited to:
    1. See Kentucky Statutes 139.010
  • sales price: shall include consideration received by the retailer from a third party if:
    1. See Kentucky Statutes 139.010
  • Storage: includes any keeping or retention in this state for any purpose except sale in the regular course of business or subsequent use solely outside this state of tangible personal property, digital property, or prewritten computer software access services purchased from a retailer. See Kentucky Statutes 139.010
  • Use: includes the exercise of:
    1. See Kentucky Statutes 139.010

History: Amended 1985 (1st Extra. Sess.) Ky. Acts ch. 6, Pt. III, sec. 9, effective
August 1, 1985. — Created 1960 Ky. Acts ch. 5, Art. I, sec. 42, effective February 5,
1960.
Legislative Research Commission Note. 1985 (1st Extra. Sess.) Ky. Acts ch. 6, Pt. III, sec. 11, directed that the provisions of this section would be effective August 1,
1985.

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