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2024 Indiana Code
Title 6. Taxation
Article 2.5. State Gross Retail and Use Taxes
Chapter 5. Exempt Transactions of Retail Merchant
6-2.5-5-37. Professional Motor Racing Vehicle Parts Exemption; Two-Seater Indy Car Exemption; Tires and Accessories Excluded

Universal Citation:
IN Code § 6-2.5-5-37 (2024)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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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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