Laws, Regulations and Annotations

Search

BTLG Table of Contents > Sales and Use Tax Annotations > I > 325.0000 Interstate and Foreign Commerce > Annotation 325.0193

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.