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Indiana Code — Title 6 (Taxation)

IC 6-2.5-1-6

"Like kind exchange"

Official textiga.in.govlast amended

Sec. 6. (a) "Like kind exchange" means the reciprocal exchange of personal property between two (2) persons, when:

# (1)

the property exchanged is of the same kind or character, regardless of grade or quality; and

# (2)

the persons exchanging the property both own the property prior to the exchange.

(b) A "like kind exchange" may be a part of a transaction involving additional consideration other than the exchanged property.

(c) Notwithstanding subsection (a), a "like kind exchange" does not occur when:

(1) the transaction involves more than two (2) persons; or

(2) one (1) party to the transaction, through agreement or negotiation with the second party, acquires personal property for the primary purpose of exchanging that property for like kind property held by the second party.
As added by Acts 1980, P.L.52, SEC.1.

Amendment history

As added by Acts 1980, P.L.52, SEC.1.

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Nearby sections (25 sections)
  1. 6-1.1-52-10 · Deferral termination event; surviving spouse
  2. 6-1.1-52-11 · Payment before the delayed due date; deferred property…
  3. 6-1.1-52-12 · Apportionment and distribution upon payment of deferred
  4. 6-1.1-52-13 · Determination of deferral termination event by the county
  5. 6-1.1-52-14 · Notice of determination of deferral termination event
  6. 6-1.1-52-15 · Recording requirements
  7. 6-2 · ARTICLE 2. REPEALED
  8. 6-2.5-1-1 · "Unitary transaction"
  9. 6-2.5-1-2 · "Retail transaction" and "retail unitary transaction"
  10. 6-2.5-1-3 · "Person"
  11. 6-2.5-1-4 · "Department"
  12. 6-2.5-1-5 · "Gross retail income"
  13. 6-2.5-1-6 · "Like kind exchange"
  14. 6-2.5-1-7 · Repealed
  15. 6-2.5-1-7.5 · "Postage charges"
  16. 6-2.5-1-8 · "Retail merchant"
  17. 6-2.5-1-9 · "Tax year" or "taxable year"
  18. 6-2.5-1-10 · "Commercial printing"
  19. 6-2.5-1-10.7 · "Advertising and promotional direct mail"
  20. 6-2.5-1-11 · "Alcoholic beverages"
  21. 6-2.5-1-11.3 · "Ancillary services"
  22. 6-2.5-1-11.5 · "Bundled transaction"
  23. 6-2.5-1-12 · "Candy"
  24. 6-2.5-1-12.5 · "Children's diapers"
  25. 6-2.5-1-13 · "Computer"
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