36 §2560. Exempt activities
Title 36: TAXATION
Part 4: BUSINESS TAXES
Chapter 358: SERVICE PROVIDER TAX (HEADING: PL 2003, C. 673, PT. V, §25 (NEW); §29 (AFF))
§2560. Exempt activities
A tax exemption provided by section 2557 to a person based upon its charitable, nonprofit or other public purposes applies only if the service purchased is intended to be used by the person primarily in the activity identified by the particular exemption. A tax exemption provided by section 2557 to a person based upon its charitable, nonprofit or other public purposes does not apply where title is held or taken by the person as security for any financing arrangement. An exemption certificate issued by the State Tax Assessor pursuant to section 2557 must identify the exempt activity and must state that the certificate may be used by the holder only when purchasing services intended to be used by the holder primarily in the exempt activity. When an otherwise qualifying person is engaged in both exempt and nonexempt activities, an exemption certificate may be issued to the person only if the person has established to the satisfaction of the assessor that the applicant has adequate accounting controls to limit the use of the certificate to exempt purchases. [2005, c. 622, §13 (NEW).]
SECTION HISTORY
2005, c. 622, §13 (NEW).