Indiana Code 6-2.5-5-38.2. Vehicle lease transactions
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Terms Used In Indiana Code 6-2.5-5-38.2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Sec. 38.2. The value of an owned vehicle is exempt from the Indiana gross retail tax in a vehicle lease transaction if the owned vehicle is exchanged for a like kind vehicle.
As added by P.L.253-1997(ss), SEC.38.