us-co/statute/39/39-27-105.5 — Lien to secure payment of taxes - exemption

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(b)Any distributor or person in possession shall provide a…#

(b) Any distributor or person in possession shall provide a copy of any lease pertaining to the assets and property described in subsection (1)(a) of this section to the department of revenue within ten days after seizure by the department of such assets and property. The department shall verify that such lease is bona fide and notify the owner that such lease has been received by the department. The department shall use its best efforts to notify the owner of the real or personal property which might be subject to the lien created in subsection (1)(a) of this section. The real or personal property of an owner who has made a bona fide lease to a distributor is exempt from the lien created in subsection (1)(a) of this section if such property can reasonably be identified from the lease description or if the lessee is given an option to purchase in such lease and has not exercised such option to become the owner of the property leased. This exemption is effective from the date of the execution of the lease. The exemption also applies if the lease is recorded with the county clerk and recorder of the county where the property is located or based or a memorandum of the lease is filed with the department of revenue on such forms as may be prescribed by said department after the execution of the lease at a cost for such filing of two dollars and fifty cents per document. Motor vehicles which are properly registered in this state, showing the lessor as owner thereof, shall be exempt from the lien created in subsection (1)(a) of this section; except that said lien applies to the extent that the lessee has an earned reserve, allowance for depreciation not to exceed fair market value, or similar interest which is or may be credited to the lessee. Where the lessor and lessee are blood relatives or relatives by law or have twenty-five percent or more common ownership, a lease between such lessee and such lessor is not considered as bona fide for the purposes of this section.

Lien to secure payment of taxes - exemption - recovery

Lien to secure payment of taxes - exemption - recovery

(b)Any distributor or person in possession shall provide a…#

(c)When the property of any licensee is seized upon any…#

(d)(I) The tax imposed by this part 1, except when paid by…#