Lease Taxes and Monthly Rental Receipt Sales Tax
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Questions and Answers

What is the requirement for the TAX LOCATION CODE?

  • It should be the same as the monthly rental tax box
  • It should be filled in according to state regulations (correct)
  • It should be blank
  • It should be left unchecked

What is the purpose of updating the rental tax from the summary screen?

  • To fill in the TAX LOCATION CODE
  • To reject the monthly rental tax
  • To add old base payment to the new rental tax
  • To calculate the new total payment (correct)

What happens when Pinnacle throws a monthly rental tax reject?

  • The TAX LOCATION CODE is filled in (correct)
  • The return contract comment is added
  • The agreement is assigned in the end
  • The rental tax is updated from the summary screen

What is the step after updating the rental tax from the summary screen?

<p>Add the new rental tax to the old base payment (B)</p> Signup and view all the answers

Why is the dealer not permitted to charge tax on tire and wheel add-ons?

<p>Because the lessee acquired them under contract (A)</p> Signup and view all the answers

What is the final step in the process?

<p>Assign the agreement in the end, including the return contract comment (D)</p> Signup and view all the answers

What is the purpose of the summary screen?

<p>To take notice of the updated rental tax calculation (B)</p> Signup and view all the answers

What is the result of adding the new rental tax to the old base payment?

<p>The new total payment (A)</p> Signup and view all the answers

When does the dealer not charge tax on tire and wheel add-ons?

<p>When the lessee acquires them under contract (C)</p> Signup and view all the answers

What is the relationship between the TAX LOCATION CODE and the monthly rental tax box?

<p>The TAX LOCATION CODE is filled in according to state regulations (B)</p> Signup and view all the answers

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