Laws, Regulations and Annotations
Search
Business Taxes Law Guide—Revision 2024
Sales and Use Tax Annotations
A B C D E F G H I J L M N O P R S T U V W X
I
325.0000 Interstate and Foreign Commerce—Regulation 1620
Annotation 325.0193
(a) In General—Shipments Into California from Points Outside State
325.0193 Use Tax—Investment. A California resident purchased unfinished diamonds for investment purposes from an out-of-state retailer. The diamonds were sent to a trust company located in another state. The purchaser had ownership, dominion, or control over the diamonds. The diamonds were held by the trust company for a period of over 90 days before being shipped to the California purchaser.
Since the property was used/stored outside the state for more than ninety days, use tax does not apply. 12/24/87.