Abstract: System and method for managing the cancellation of equipment lease contracts on a date prior to the date set forth in the contract (Dt) wherein a database of lease contracts comprising a plurality of account entries is maintained, each account entry including lease contract information comprising the name of the lessor, the normal contract lease termination date (Dt), the amount (Pa) and number (Pn) of periodic payments, the remaining time on the contract at termination (Rt), the identity (Ei) and class (Ec) of equipment which is the subject matter of the lease contract. Another database comprises all classes of equipment (Ec) owned by the lessor and the number of items of each class of equipment presently in inventory, the number of items of the class which are presently leased, the historical utilization rate of the class (Hu), the historical lease rate (Hlr), and the historical time to lease items of the class following return of item of the class to inventory after a previous lease is terminated (Ht).

Abstract: A computer system and method for a lessor to determine correct use tax on moveable equipment which may be subject to tax by more than one tax authority comprising inventory records for each individual item of equipment comprising an equipment identifier, equipment category, acquisition cost, depreciation, net book value, and branch; updating the inventory records to reflect each modification, improvement, disposition, and change in equipment category, and use tax paid; activity records comprising each lease event pertaining to each item of equipment; and a set of tax rules, which are periodically updated, for each taxing authority where any of the items of equipment may be leased or used, comprising sets of formulas reflecting relationships between tax due and acquisition of equipment, first leasing of equipment, subsequent leasing of equipment, length of lease term, age of equipment, and/or equipment categories.