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Indiana Administrative Code — Title 45 (Dept. of State Revenue)

45 IAC 2.2-5-52

Encumbrances on trade-ins

Official textiac.iga.in.govlast amended

Sec. 52. (a) The state gross retail tax shall not apply to such part of the gross income from transactions constituting selling at retail as is

exempt from the gross income tax under the provisions of IC 6-2.1-3-13.

(b) The state gross retail tax shall not apply to so mush [sic.] of the gross receipts of any transaction from all amounts represented

by an encumbrance of any kind on tangible personal property received by a retail merchant in reciprocal exchange for tangible personal property

of like kind.

Amendment history

(Department of State Revenue; Ch. 5, Reg. 6-2.5-5-24(a)(050); filed Dec 1, 1982, 10:35 am: 6 IR 51)

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Nearby sections (25 sections)
  1. 2.2-5-40 · Food not exempt
  2. 2.2-5-41 · Confectionary items
  3. 2.2-5-42 · Soft drinks, sodas and similar beverages
  4. 2.2-5-43 · Food for immediate consumption
  5. 2.2-5-44 · Combination business; sales of groceries and meals
  6. 2.2-5-45 · Caterers
  7. 2.2-5-46 · School meals
  8. 2.2-5-47 · School building materials
  9. 2.2-5-48 · Gross receipts exempt from gross income tax; U.S. and…
  10. 2.2-5-49 · Sales to the United States
  11. 2.2-5-50 · Selling at retail; gross income
  12. 2.2-5-51 · United States retailer's and manufacturer's excise taxes
  13. 2.2-5-52 · Encumbrances on trade-ins
  14. 2.2-5-53 · Interstate commerce; sales
  15. 2.2-5-54 · Delivery site
  16. 2.2-5-55 · Not-for-profit organizations; acquisitions
  17. 2.2-5-56 · Fraternities, sororities, and student cooperative housing…
  18. 2.2-5-57 · Not-for-profit organization; sales under 30 day rule
  19. 2.2-5-58 · Not-for-profit organizations for educational, cultural or…
  20. 2.2-5-59 · Not-for-profit organizations to improve skills of members;…
  21. 2.2-5-60 · Property not exempt
  22. 2.2-5-61 · Public transportation; acquisitions
  23. 2.2-5-62 · Tangible personal property directly consumed in the…
  24. 2.2-5-63 · Service directly used or consumed in rendering public…
  25. 2.2-5-64 · Gasohol exemption (Repealed)
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