Columbus Equipment Co. v. Limbach

The commissioner argues that the interest amounts collected from the lessees are part of the “price” of the retail sale and taxable, regardless of the name taxpayer gives them. Taxpayer responds that these amounts were the cost of borrowing money with which the lessee was able to purchase the property and were not part of the “price.”

R.C. 5739.02 levies a tax on retail sales and this tax is measured by the “price” of the sale. R.C. 5739.01(H) defines “price” as:

“* * * [T]he aggregate value in money of anything paid or delivered, or promised to be paid or delivered, in the complete performance…