Introduced Version
HOUSE BILL No. 1054
_____
DIGEST OF INTRODUCED BILL
Citations Affected:
IC 6-2.5-5-39.
Synopsis: Sales tax exemption for ATVs. Exempts a retail transaction
involving an all terrain vehicle (ATV) from the state gross retail tax if
the person acquiring the ATV intends to use it for agricultural
purposes.
Effective: July 1, 2003.
January 7, 2003, read first time and referred to Committee on Ways and Means.
Introduced
First Regular Session 113th General Assembly (2003)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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NEW will appear in that style type in the introductory clause of each SECTION that adds
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HOUSE BILL No. 1054
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-2.5-5-39; (03)IN1054.1.1. -->
SECTION 1.
IC 6-2.5-5-39
IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2003]: Sec. 39. (a) For purposes of this section, "all terrain
vehicle" has the meaning set forth in
IC 15-7-7-2.
(b) For purposes of this section, "agricultural purpose" has the
meaning set forth in
IC 14-21-1-24.
(c) A retail transaction involving an all terrain vehicle is exempt
from the state gross retail tax if the person acquiring the all terrain
vehicle intends to use it for agricultural purposes.