Professional Motor Racing Vehicle Parts Exemption; Two-Seater Indy Car Exemption; Tires and Accessories Excluded

  1. Law
  2. Indiana Code
  3. Taxation
  4. State Gross Retail and Use Taxes
  5. Exempt Transactions of Retail Merchant
  6. Professional Motor Racing Vehicle Parts Exemption; Two-Seater Indy Car Exemption; Tires and Accessories Excluded

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Sec. 37. (a) Transactions involving tangible personal property are exempt from the state gross retail tax, if the tangible personal property:

(1) is leased, owned, or operated by a professional racing team; and

(2) comprises any part of a professional motor racing vehicle, excluding tires and accessories.

(b) Transactions involving tangible personal property are exempt from the state gross retail tax, if the tangible personal property:

(1) is leased, owned, or operated by a company that is engaged in offering a competitive racing experience during a competitive racing event; and

(2) comprises any part of a two-seater Indianapolis 500 style race car, excluding tires and accessories.

As added by P.L.19-1994, SEC.6. Amended by P.L.193-2005, SEC.9; P.L.153-2012, SEC.2.


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