Indiana Code 6-2.5-5-14. Public utilities; acquisitions of personal property
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Sec. 14. (a) Transactions involving tangible personal property are exempt from the state gross retail tax if the person acquiring the property is:
(2) a utility owned or operated by a special district; or
(1) a municipally owned utility;
Terms Used In Indiana Code 6-2.5-5-14
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) a public utility owned or operated by a not-for-profit corporation incorporated under:
(A) the Indiana General Not for Profit Corporation Act (Acts 1935, Chapter 157, as amended), notwithstanding its repeal;
(B) the Indiana Not-for-Profit Corporation Act of 1971 (IC 23-7-1.1), notwithstanding its repeal; or
(C) IC 23-17.
(b) The term “public utility owned or operated by a not-for-profit corporation” does not include those public utilities incorporated under Acts 1935, chapter 157, as amended, and which are owned or operated by local district rural electric membership corporations.
As added by Acts 1980, P.L.52, SEC.1. Amended by Acts 1980, P.L.53, SEC.1; P.L.179-1991, SEC.10.