California Revenue and Taxation Code

§ 6362.8

RTC § 6362.8 Effective Sep 25, 1992Div. 2 · Part 1 · Ch. 4 · Art. 1

Statute text

(a)There are exempted from the taxes imposed by this part, the gross receipts from the sale of, and the storage, use, or other consumption in this state, of tangible personal property that becomes an ingredient or component part of any newspaper or periodical regularly issued at average intervals not exceeding three months, or any such newspaper or periodical.

(b)This section shall apply only with respect to any of the following:

(1)Any newspaper or periodical that is published or purchased by an organization that qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and is distributed to the members of the organization in consideration of payment of the organization’s membership fee, or to the organization’s contributors.

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Legislative history

Amended by Stats. 1992, Ch. 903, Sec. 3. Effective September 25, 1992. Operative November 1, 1992, by Sec. 5 of Ch. 903.