There is hereby levied and imposed, in addition to all other taxes and feesof every kind now imposed by law, a tax upon the sale of every watercraftsold in this Commonwealth, upon the use in this Commonwealth of anywatercraft and upon the gross receipts from the lease, charter or other useof any watercraft by a registered dealer in this Commonwealth. The amount ofthe tax to be collected shall be determined by applying the following rateagainst the sale price, market value or gross receipts:
1. Two percent of the sale price of each watercraft sold in the Commonwealth.
2. Two percent of the sale price of each watercraft not sold in theCommonwealth but required to be titled in the Commonwealth. However, if thewatercraft is first required to be titled in the Commonwealth six months ormore after its acquisition, the tax shall be two percent of the market valueof such watercraft at the time it is titled.
3. Two percent of the gross receipts from the lease, charter or other use ofany watercraft by a registered dealer.
The maximum tax levied under subdivisions 1 and 2 of this section shall be$2,000. A transaction taxed under subdivision 1 shall not be taxed undersubdivision 2 or 3, nor shall the same transaction be taxed more than onceunder either subdivision 1, 2 or 3. Use of any watercraft by a registereddealer resulting in taxation under subdivision 3 shall not exempt anysubsequent sale or use of such watercraft from being taxed under subdivision1 or 2 if applicable.
(Code 1950, §§ 58-685.41, 58-685.44; 1981, c. 405; 1984, c. 675; 1987, c.516; 1990, c. 666.)
There is hereby levied and imposed, in addition to all other taxes and feesof every kind now imposed by law, a tax upon the sale of every watercraftsold in this Commonwealth, upon the use in this Commonwealth of anywatercraft and upon the gross receipts from the lease, charter or other useof any watercraft by a registered dealer in this Commonwealth. The amount ofthe tax to be collected shall be determined by applying the following rateagainst the sale price, market value or gross receipts:
1. Two percent of the sale price of each watercraft sold in the Commonwealth.
2. Two percent of the sale price of each watercraft not sold in theCommonwealth but required to be titled in the Commonwealth. However, if thewatercraft is first required to be titled in the Commonwealth six months ormore after its acquisition, the tax shall be two percent of the market valueof such watercraft at the time it is titled.
3. Two percent of the gross receipts from the lease, charter or other use ofany watercraft by a registered dealer.
The maximum tax levied under subdivisions 1 and 2 of this section shall be$2,000. A transaction taxed under subdivision 1 shall not be taxed undersubdivision 2 or 3, nor shall the same transaction be taxed more than onceunder either subdivision 1, 2 or 3. Use of any watercraft by a registereddealer resulting in taxation under subdivision 3 shall not exempt anysubsequent sale or use of such watercraft from being taxed under subdivision1 or 2 if applicable.
(Code 1950, §§ 58-685.41, 58-685.44; 1981, c. 405; 1984, c. 675; 1987, c.516; 1990, c. 666.)
There is hereby levied and imposed, in addition to all other taxes and feesof every kind now imposed by law, a tax upon the sale of every watercraftsold in this Commonwealth, upon the use in this Commonwealth of anywatercraft and upon the gross receipts from the lease, charter or other useof any watercraft by a registered dealer in this Commonwealth. The amount ofthe tax to be collected shall be determined by applying the following rateagainst the sale price, market value or gross receipts:
1. Two percent of the sale price of each watercraft sold in the Commonwealth.
2. Two percent of the sale price of each watercraft not sold in theCommonwealth but required to be titled in the Commonwealth. However, if thewatercraft is first required to be titled in the Commonwealth six months ormore after its acquisition, the tax shall be two percent of the market valueof such watercraft at the time it is titled.
3. Two percent of the gross receipts from the lease, charter or other use ofany watercraft by a registered dealer.
The maximum tax levied under subdivisions 1 and 2 of this section shall be$2,000. A transaction taxed under subdivision 1 shall not be taxed undersubdivision 2 or 3, nor shall the same transaction be taxed more than onceunder either subdivision 1, 2 or 3. Use of any watercraft by a registereddealer resulting in taxation under subdivision 3 shall not exempt anysubsequent sale or use of such watercraft from being taxed under subdivision1 or 2 if applicable.
(Code 1950, §§ 58-685.41, 58-685.44; 1981, c. 405; 1984, c. 675; 1987, c.516; 1990, c. 666.)
