Barry Equipment Co. v. Limbach

The commissioner contends that pursuant to R.C. 5739.01(H), an itemized charge labeled as “interest,” which a consumer agrees to pay when it exercises an option to purchase leased tangible personal property, is part of the “price” upon which the sales tax is based.

In the recent case Columbus Equipment Co. v. Limbach (1988), 38 Ohio St. 3d 62, 526 N.E. 2d 294, the identical argument raised by the commissioner in the cause sub judice was argued therein. In Columbus Equipment, we held that the charges labeled as interest in the context of the exercise of an option to purchase leased equipment…