§ 26-53-116 - Exemption for sale and purchase of certain vessels.
26-53-116. Exemption for sale and purchase of certain vessels.
The gross receipts and gross proceeds derived from the sale and purchase of vessels, barges, and towboats of at least a fifty-ton load displacement and parts and labor used in the repair and construction of them are exempt from the state compensating tax levied by this subchapter.