12A-1.065. Sales to Banks

(1) Sales and rentals of tangible personal property to state and national banks are taxable. (2) Motor vehicles purchased or rented by a state or national bank for the use of its officers and employees are taxable. (3) The sale of repossessed tangible personal property by a bank to a consumer is taxable. The bank shall collect and remit sales tax on all such sales and, in the case of a motor vehicle, shall provide the purchaser with a receipt therefor which can be attached to the application for certificate of title as proof that tax has been paid on the purchase price. A bank is not liable for the collection of sales tax when it sells a repossessed automobile to a dealer for resale. (4) The rental charge made by a bank on safety deposit boxes is exempt. (5) The charge made by a bank for the use of depository bags is a service charge and is exempt. (6) Imprinted (personalized) checks sold by a bank to its customers are taxable. When such bank issues five or ten checks a month to customers for a fixed charge which represents a service charge on their accounts, such charge is exempt.