A. Any watercraft sold to or used by the United States or any of thegovernmental agencies thereof, the Commonwealth of Virginia or any politicalsubdivision thereof or sold to an insurance company for the sole purpose ofdisposition when such insurance company has paid the registered owner of suchwatercraft on a total loss claim, shall be exempt from the tax imposed bythis chapter.
B. Any person who was the owner of a watercraft which was not required to betitled prior to January 1, 1998, shall apply for a title for such watercraftwithout incurring liability for the tax imposed under this chapter.
C. Any watercraft constructed by a commercial waterman for his own use shallbe exempt from the tax imposed under this chapter.
D. Any registered dealer in watercraft shall be exempt from the tax imposedby subdivisions 1 and 2 of § 58.1-1402. Such dealer shall also be exempt fromthe titling requirement in § 29.1-713.
E. Any watercraft purchased by and for the use of a volunteer sea rescuesquad, volunteer fire department or a volunteer rescue squad, not conductedfor profit shall be exempt from the tax imposed under this chapter.
F. Any watercraft transferred to trustees of a revocable inter vivos trust,when the owners of the watercraft and the beneficiaries of the trust are thesame persons, regardless of whether other beneficiaries may also be named inthe trust instrument, or transferred by trustees of such a trust tobeneficiaries of the trust following the death of the grantor, when noconsideration has passed between the grantor and the beneficiaries in eithercase, shall be exempt from the tax imposed under this chapter.
(Code 1950, §§ 58-685.44 to 58-685.46; 1981, c. 405; 1984, c. 675; 1986, c.545; 1988, c. 314; 1997, c. 877; 2000, c. 602.)
A. Any watercraft sold to or used by the United States or any of thegovernmental agencies thereof, the Commonwealth of Virginia or any politicalsubdivision thereof or sold to an insurance company for the sole purpose ofdisposition when such insurance company has paid the registered owner of suchwatercraft on a total loss claim, shall be exempt from the tax imposed bythis chapter.
B. Any person who was the owner of a watercraft which was not required to betitled prior to January 1, 1998, shall apply for a title for such watercraftwithout incurring liability for the tax imposed under this chapter.
C. Any watercraft constructed by a commercial waterman for his own use shallbe exempt from the tax imposed under this chapter.
D. Any registered dealer in watercraft shall be exempt from the tax imposedby subdivisions 1 and 2 of § 58.1-1402. Such dealer shall also be exempt fromthe titling requirement in § 29.1-713.
E. Any watercraft purchased by and for the use of a volunteer sea rescuesquad, volunteer fire department or a volunteer rescue squad, not conductedfor profit shall be exempt from the tax imposed under this chapter.
F. Any watercraft transferred to trustees of a revocable inter vivos trust,when the owners of the watercraft and the beneficiaries of the trust are thesame persons, regardless of whether other beneficiaries may also be named inthe trust instrument, or transferred by trustees of such a trust tobeneficiaries of the trust following the death of the grantor, when noconsideration has passed between the grantor and the beneficiaries in eithercase, shall be exempt from the tax imposed under this chapter.
(Code 1950, §§ 58-685.44 to 58-685.46; 1981, c. 405; 1984, c. 675; 1986, c.545; 1988, c. 314; 1997, c. 877; 2000, c. 602.)
A. Any watercraft sold to or used by the United States or any of thegovernmental agencies thereof, the Commonwealth of Virginia or any politicalsubdivision thereof or sold to an insurance company for the sole purpose ofdisposition when such insurance company has paid the registered owner of suchwatercraft on a total loss claim, shall be exempt from the tax imposed bythis chapter.
B. Any person who was the owner of a watercraft which was not required to betitled prior to January 1, 1998, shall apply for a title for such watercraftwithout incurring liability for the tax imposed under this chapter.
C. Any watercraft constructed by a commercial waterman for his own use shallbe exempt from the tax imposed under this chapter.
D. Any registered dealer in watercraft shall be exempt from the tax imposedby subdivisions 1 and 2 of § 58.1-1402. Such dealer shall also be exempt fromthe titling requirement in § 29.1-713.
E. Any watercraft purchased by and for the use of a volunteer sea rescuesquad, volunteer fire department or a volunteer rescue squad, not conductedfor profit shall be exempt from the tax imposed under this chapter.
F. Any watercraft transferred to trustees of a revocable inter vivos trust,when the owners of the watercraft and the beneficiaries of the trust are thesame persons, regardless of whether other beneficiaries may also be named inthe trust instrument, or transferred by trustees of such a trust tobeneficiaries of the trust following the death of the grantor, when noconsideration has passed between the grantor and the beneficiaries in eithercase, shall be exempt from the tax imposed under this chapter.
(Code 1950, §§ 58-685.44 to 58-685.46; 1981, c. 405; 1984, c. 675; 1986, c.545; 1988, c. 314; 1997, c. 877; 2000, c. 602.)
