Custom Leasing Co. v. Limbach

Are the transactions covered by the leases involved here conditional sales, as alleged by Custom Leasing, or are they leases, as determined by the Tax Commissioner and as found by the BTA? For the reasons which follow, we conclude that the transactions are leases, and that Custom Leasing is the “owner” of the leased equipment for personal property tax return purposes.

R.C. 5711.05 provides in pertinent part: “Each person shall return all the taxable property of which he is the owner * * * ”; “taxpayer” in R.C. 5711.01(B) “means any owner of taxable property * * *.”

When the “lease/conditional…