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An "Equipment Lease Agreement" is generally used to describe the formal contract or agreement that binds the leasing customer to the terms and conditions set forth by the leasing company. It is usually prepared or provided by the leasing company and is therefor heavily weighed to the advantage of the lessor (e.g., waiver of liability for defects). In this form, title to the equipment is not transferred at the end of the lease, but is held by the Lessor.
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Withheld EIT is then reported and paid to the Tax Officer for the appropriate TCD. Tax Forms, Work From Home - Local Services Tax and Payroll Expense Tax Information(PDF, 245KB), Important Information for City of Pittsburgh Taxpayers.
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