California Revenue and Taxation Code

§ 6368.1

RTC § 6368.1 Effective Jul 29, 1991Div. 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 watercraft which are leased, or are sold to persons for the purpose of leasing, and any sales of tangible personal property becoming a component part of such watercraft in the course of constructing, repairing, cleaning, altering, or improving the same, and charges made for labor and services rendered in respect to such constructing, repairing, cleaning, altering, or improving, if any of the following conditions are met:

(1)The lessee uses the watercraft in interstate and foreign commerce involving the transportation of property or persons for hire.

(2)The watercraft is for use in commercial deep sea fishing operations outside the territorial waters of this state by persons who are regularly engaged in commercial deep sea fishing.

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Legislative history

Amended by Stats. 1991, Ch. 236, Sec. 4. Effective July 29, 1991.