27 C.F.R. § 53.103 Lease considered as sale.
Title 27 - Alcohol, Tobacco Products and Firearms
For purposes of chapter 32 of the Code, the lease of an article by a manufacturer, producer, or importer shall be considered a sale of the article. The term lease means a contract or agreement, written or verbal, which gives the lessee an exclusive, continuous right to the possession or use of a particular article for a period of time. The term includes any renewal or extension of a lease or any subsequent lease of the article. [T.D. ATF–308, 56 FR 303, Jan. 3, 1991, as amended by T.D. ATF–312, 56 FR 31084, July 9, 1991; T.D. 372, 61 FR 20724, May 8, 1996]
Title 27: Alcohol, Tobacco and Firearms
PART 53—MANUFACTURERS EXCISE TAXES—FIREARMS AND AMMUNITION
Subpart J—Special Provisions Applicable to Manufacturers Taxes
§ 53.103 Lease considered as sale.
