This office lease form states and lists the terms for the Demised Premises. It describes the number of lease years plus any partial lease year as well as the commencement of the lease term.
California Precision Drafting Provision Dealing with Definitions Dating the Lease and Defining Terms
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US-OL1053
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How to fill out Precision Drafting Provision Dealing With Definitions Dating The Lease And Defining Terms?
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FAQ
If the lessee: Buys the vehicle at the end of the lease, use tax is based on the balance owed at the time of lease pay-off. Sells the vehicle within 10 days, use tax is due only from the third party. Sells the vehicle after 10 days, use tax will be due from the lessee and the third party.
Most California leases are structured as a gross lease, with the tenant paying real estate taxes over a base year, or on a triple net (NNN) basis, with the tenant paying all of the real estate taxes (or a proportionate share if occupying only a portion of a building).
You must pay tax on any profit from renting out property. For California, rental income and losses are always considered a passive activity. Visit our Instructions for Form FTB 3801, Passive Activity Loss Limitations for more information.
Generally, when an existing lease that is not a "sale" and "purchase" is assigned, whether or not title to the leased property is transferred, the rental payments are not subject to tax. If title is transferred, tax applies measured by the sales price.
With a lease, you don't pay the sales tax up front. You pay sales tax monthly based on the amount of your payment. You may also have to pay an acquisition fee to the bank and a down payment called a ?cap reduction fee.?
