Indiana Extends Sales Tax Exemption to Two-Seater Indy Cars
- Sales Tax News
- May 1, 2012 | Susan McLain
Indiana Information Bulletin #67 was updated in April 2012 to add “…a two-seater Indianapolis 500-style race car to the type of vehicle that qualifies for the sales tax exemption provided to professional racing teams.”
To qualify the team must be registered with the IRS as a ‘for-profit’ business and must be engaged in activities on an ongoing, regular basis. “A sporadic activity, a hobby, or an amusement diversion does not qualify.”
Teams may be located within or without the state of Indiana to qualify for the exemption. Out-of-state professional racing teams may create their exemption certificate using their home state business tax identification number. Whether local or out-of-state, the team would use Form ST-105 to create their General Sales Tax Exemption Certificate to purchase items such as engines, chassis, tires and vehicle accessories sales tax-free.