SALT Report 3302 – On March 25, 2014 the BOE during the Administrative Session will be hearing/voting on approval of Item N5 (Consumer Use Tax – Vehicles, Vessels and Aircraft). These changes are important to be aware of as the BOE absorbs new laws, regulations, policies and procedures enacted over the last few years. These important items represent changes to the BOE Compliance Policy and Procedure Manual in the area of Vehicles, Vessels and Aircraft (Consumer Use Tax):
Changes to sections 820.000 through 825.040 relating to Vehicles, Vessels and Aircraft
Consumer Use Tax – Many significant changes throughout this almost entirely new section. Impacted taxpayers will be held to a contemporaneous, “sufficient documentation” standard more stringent than in the past. Exemptions are addressed along with examples of sufficient documentation. Multiple forms are explained and set forth (i.e., BOE 106, BOE 111, BOE 447 and BOE 448).
For Further Information: