Personal Property Lease/rental Transaction Tax - 7550 Page 4

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INSTRUCTIONS FOR PREPARING THE
ACCOUNT NUMBER
CHICAGO PERSONAL PROPERTY LEASE/RENTAL TRANSACTION
TAX RETURN FOR LESSORS AND LESSEES - 7550
Ground transportation vehicle leases where the lessor is subject to the Ground Transportation Tax (Municipal Code Chapter 3-46) are
not to be reported on this return (pursuant to Ch. 3-32, Sec. 3-32-050 (A) (6)). Do not include these leases on line 1.
Line 1.
Lessor gross receipts (lessors who lease/rent personal property to lessees must complete lines 1a through 1d):
a.
Enter gross receipts from all leases/rentals of personal property where the lessee
0 0
takes possession or delivery of property in Chicago (include uniform rentals).......
b.
Enter gross receipts from all leases/rentals of personal property where the lessee
takes possession or delivery of property outside Chicago and the property is used
0 0
at least 50% of the time in Chicago (include uniform rentals)................................
c.
Enter gross receipts from all leases/rentals of personal property where the lessee
0 0
takes possession or delivery of property outside Chicago and the property is used
more than 50% of the time outside Chicago..........................................................
d.
Total lessor gross receipts (add lines 1a, 1b, and 1c)...........................................
0 0
Lessee payments subject to tax (lessees/renters of personal property must complete line 1e):
e. Enter rental/lease payments, that are subject to Chicago Transaction Tax, on
0 0
leases where the lessor did not charge the Chicago Transaction Tax...................
f.
Other....................................................................................................................
0 0
g.
Total gross receipts and lessee payments (add lines 1d, 1e, and 1f)....................
0 0
Line 2.
Lessor deductions/exemptions: (Please refer to Municpal Code Chapter 3-32 for details)
a.
Receipts from leases/rentals where the lessee takes possession or delivery of
personal property outside Chicago and more than 50% of its use occurs outside
0 0
Chicago...............................................................................................................
b.
Leases for re-lease (Ch. 3-32, Sec. 3-32-060): Receipts from the lease or rental
of certain personal property where the lessee acts as a lessor of same property.
(The lessee must supply to its lessor a written verification that the property is
being leased for release, together with either (A) a re-lease certificate issued by
the department or (B) documentary evidence that the subsequent lease is
0 0
exempt from, or otherwise not subject to, the tax.)...............................................
c.
Receipts from a lessee that is a governmental body............................................
0 0
d.
Receipts from a lessee that is an organization operated exclusively for
0 0
charitable, educational, or religious purposes.......................................................
e.
Receipts from a rental/lease of medical appliances or medical equipment by
0 0
persons for their own use to correct or treat their own bodies...............................
f.
Receipts from lease, rental, or use by an interstate carrier for hire of any rolling
0 0
stock actually moving in interstate commerce......................................................
g.
Separately stated, optional service charges..........................................................
0 0
Page 1
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