Hawaii Calling---This is Bette Kerhoulas Speaking

http://www.utdallas.edu/police/wavs/DragnetJob.WAV

Bette Kerhoulas, incoming president of the United Association of Equipment

Leasing Association, called from the main island in Hawaii.  She is on vacation

from Pacifica-Capital, and promised her husband not to bring a lap top, but

she calls in every day.

It seems even though Leasing News said she was on vacation, she and her

staff received many telephone calls.  No, she says, they don’t need to

borrow any money. They have cash to pay any fines or penalties, plus

they do not believe the Franchise Tax Board is correct.

It does appear that document fees for mortgage loans are taxed by the Franchise

Tax Board.  At least, she says that is what they claim. The mortgage companies

do not charge the borrower for the sales tax, but they pay it.

It appears if the charge is with the other cost, it is part of the sale.  If it is separate, meaning a separate letter, then it may be considered “labor” and not taxable.

Certain states already charge sales tax on passing title, it appears, such as Texas.

The key is the wording on the master document, but it now appears the California

Franchise Tax Board will be auditing all leasing companies in California during

the next two years to see if they are compiling, and if not, they owe the sales

tax plus ten percent interest per year for the last three years.

From Hawaii, she says she does not know if the UAEL Sales Tax meeting will

discuss this, or whether the representatives will have all the definitive answers,

but at Leasing New’s request, she is going to have a Mai Tai.

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