Ohio Sale and Servicing Agreement

State:
Multi-State
Control #:
US-EG-9062
Format:
Word; 
Rich Text
Instant download

Description

Sale and Servicing Agr. btwn Prudential Securities Secured Financing Corp., ABFS Mortgage Loan Trust 1999-4, American Bus. Credit, Inc., et al. dated Dec. 1, 1999. 58 pages
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FAQ

The Ohio sales and use tax applies to the retail sale, lease, and rental of tangible personal property as well as the sale of selected services in Ohio.

Taxable "personal care services" include such services as: Manicures, including the application of polish. The application of artificial nails. Pedicures. Hair removal by any means, including electrolysis, plucking or the application of depilatory products.

The Ohio sales tax exempts sales made to churches, to organizations exempt from federal taxation under IRC Sec. 501(c)(3), and to nonprofit organizations operated exclusively for charitable purposes.

Contractors and home remodelers do not collect sales tax on their work. They do however, pay sales tax on the supplies they purchase. Available on the Ohio Department of Taxation's website is the form STEC CC, which is the construction contract exemption certificate.

Yes. Charges for land reclamation would be ?landscaping and lawn care services.? Sales or use tax should be charged on these services unless the customer has a valid claim of exemption.

Since 2003, Ohio law requires massage therapists to charge sales tax for massage services. However, it is possible to obtain an exemption from sales tax if massage therapy is recommended by a physician or chiropractor for health reasons.

The ?Pooling and Servicing Agreement? is the legal document that contains the responsibilities and rights of the servicer, the trustee, and others over a pool of mortgage loans.

8 Are warranties, maintenance agreements, or service contracts subject to the sales tax? Basically, yes. However, warranties, extended warranties, maintenance agreements or service contracts covering exempt equipment would also be exempt.

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Ohio Sale and Servicing Agreement