§ 4106. Exemptions
Oklahoma Statutes AnnotatedTitle 63. Public Health and Safety
63 Okl.St.Ann. § 4106
§ 4106. Exemptions
An original or a transfer certificate of title shall be issued without the payment of the excise tax levied by this act1 for:
5. Any vessel or motor which is owned and being offered for sale by a person licensed as a dealer under the provisions of the Oklahoma Vessel and Motor Registration Act,2 registered in Oklahoma and the excise tax paid thereon;
c. to a corporation for the purpose of organization of such corporation when the former owners of the vessel or motor transferred are immediately after the transfer in control of the corporation, and the stock or securities received by each is substantially in proportion to his interest in the vessel or motor prior to the transfer;
d. to a partnership in the organization of such partnership if the former owners of the vessel or motor transferred are, immediately after the transfer, members of such partnership and the interest in the partnership received by each is substantially in proportion to his interest in the vessel or motor prior to the transfer;
9. All vessels or motors owned by organizations which are exempt from taxation pursuant to the provisions of Section 501(c)(3) of the Internal Revenue Code, 26 U.S.C., Section 501(c)(3), and which are primarily devoted to the establishment, development, operation, promotion, and participation in, alone or in conjunction with others, educational and training programs and competitive events to provide knowledge, information, or comprehensive skills related to the sports of sailing, fishing, boating, and other aquatic related activities.
Credits
Laws 1989, c. 346, § 49, eff. Jan. 1, 1990; Laws 2006, c. 272, § 7, eff. Nov. 1, 2006.
63 Okl. St. Ann. § 4106, OK ST T. 63 § 4106
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document |