California Revenue and Taxation Code 6285 – There are exempted from the taxes imposed by this part the gross …
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 a mobilehome or commercial coach required to be registered annually under the Health and Safety Code, or of a vehicle required to be registered under the Vehicle Code, or of a vehicle subject to identification under Division 16.5 (commencing with Section 38000) of the Vehicle Code, or a vehicle that qualifies under the permanent trailer identification plate program pursuant to subdivision (a) of § 5014.1 of the Vehicle Code, or of a vessel or an aircraft, when either of the following occurs:
(a) The person selling the property is either the parent, grandparent, child, grandchild, or spouse, or the brother or sister if the sale between that brother or sister is between two minors related by blood or adoption, of the purchaser, and the person selling is not engaged in the business of selling the type of property for which the exemption is claimed.
Terms Used In California Revenue and Taxation Code 6285
- Person: includes any person, firm, partnership, general partner of a partnership, limited liability company, registered limited liability partnership, foreign limited liability partnership, association, corporation, company, syndicate, estate, trust, business trust, or organization of any kind. See California Revenue and Taxation Code 19
- Personal property: All property that is not real property.
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- Spouse: includes "registered domestic partner" as required by §. See California Revenue and Taxation Code 12.2
(b) The sale is to a revocable trust in which all of the following occur:
(1) The seller has an unrestricted power to revoke the trust.
(2) The sale does not result in any change in the beneficial ownership of the property.
(3) The trust provides that upon revocation the property will revert wholly to the seller.
(4) The only consideration for the sale is the assumption by the trust of an existing loan for which the tangible personal property being transferred is the sole collateral for the assumed loan.
(Amended by Stats. 2000, Ch. 861, Sec. 6.1. Effective September 29, 2000. Operative December 31, 2001, pursuant to Sec. 67 of Ch. 861.)