Section 11-303 - Depreciation allowance.
§ 11-303. Depreciation allowance.
(a) In general.- A buyer is allowed a depreciation allowance as an adjustment to taxable price if:
(1) tangible personal property or a taxable service is acquired before the tangible personal property is brought into the State for use in the State or before the taxable service is used in the State; and
(2) the use first occurs in another state or federal jurisdiction.
(b) Amount of allowance.- The allowance under subsection (a) of this section for each full year that follows the date of purchase is 10% of the taxable price paid to acquire the tangible personal property or taxable service.
[An. Code 1957, art. 81, § 373; 1988, ch. 2, § 1.]