10-45-9.1. Exemption of property sold for lease.

Gross receipts from the sale of tangible personal property and any product transferred electronically to a person who intends to lease the property to persons in this state and actually does so are exempted from the provisions of this chapter and the tax imposed by it.

Source: SL 1983, ch 86, § 4; SL 2008, ch 51, § 13; SL 2024, ch 39, § 2.