Exemptions
Sec. 4. (a) The storage, use, and consumption of tangible personal
property in Indiana is exempt from the use tax if:
(1) the property was acquired in a retail transaction in Indiana
and the state gross retail tax has been paid on the acquisition of
that property; or
(2) the property was acquired in a transaction that is wholly or
partially exempt from the state gross retail tax under any part of
IC 6-2.5-5, except IC 6-2.5-5-24(b), and the property is being
used, stored, or consumed for the purpose for which it was
exempted.
(b) If a person issues a state gross retail or use tax exemption
certificate for the acquisition of tangible personal property and
subsequently uses, stores, or consumes that property for a nonexempt
purpose, then the person shall pay the use tax.
As added by Acts 1980, P.L.52, SEC.1.
Last modified: May 28, 2006