Cal. Rev. & Tax. Code § 31202

Current through the 2023 Legislative Session.

Section 31202 - Definitions

For purposes of this part, all of the following definitions shall apply:

(a) "Heavy equipment property" means rental property of a qualified heavy equipment renter.

(b) "Qualified heavy equipment renter" means a renter that satisfies both of the following:

(1) The principal business of the renter is the rental of heavy equipment property.

(2) The renter is engaged in a line of business described in Code 532412 or 532310 of the North American Industry Classification System published by the United States Office of Management and Budget, 2012 edition.

Ca. Rev. and Tax. Code § 31202

Added by Stats 2017 ch 505 (AB 1130),s 2, eff. 1/1/2018.