(DOWNLOAD) "Village Menomonee Falls v. Falls Rental" by Court of Appeals of Wisconsin # eBook PDF Kindle ePub Free
eBook details
- Title: Village Menomonee Falls v. Falls Rental
- Author : Court of Appeals of Wisconsin
- Release Date : January 03, 1986
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
The sole issue on appeal is whether goods held out for rental may be classified as ""merchants' stock-in-trade"" thereby qualifying it as personal property exempt from taxation under sec. 70.111(17), Stats. The statute allows exemptions from general property taxes for ""merchants' stock-in-trade, manufacturers' materials and finished products and livestock."" We conclude that personal property held out for rental is not ""stock-in-trade"" as that term is used in the statute; therefore, we reverse the judgment of the trial court. Falls Rental World, a/k/a L & R Rentals (FRW), is in the business of renting personal property to others. This property generally consists of party goods, equipment used outside the home, and medical equipment. FRW also holds some property out for sale which is not subject to rental. The property in dispute was held out for rental use by its customers.