(especially in legal usage) a person who purchases or contracts to purchase; buyer. Origin of emptor. 1870-1875. 1870-75; < Latin: buyer, equivalent to em(ere) to buy + -tor -tor, with intrusive -p-. Examples from the Web for emptor.
Taxes. Because rent is considered income, it is taxable to the extent that your income is taxable. For example, if your income (including rent) minus any allowable exemptions and deductions is still taxable, then your rent is taxable. However, if you also use the rental property as your home, and you rent it out less than 15 days out of the year, then the rent you collect is not considered part of your income.
RENTAL VEHICLE TAX In addition to the gross receipts tax, a rental vehicle tax is levied on the gross receipts or gross proceeds derived from rentals of licensed motor vehicles for a period of less than 30 days. Rate and Base: 6.0% plus an additional 5.0% Exemptions: 1. Diesel trucks leased for commercial shipping.