California § 6407. 6407. (Added by Stats. 1967, Ch. 832.)

California Statutes

§ 6407. — 6407. (Added by Stats. 1967, Ch. 832.)

California § 6407.

JurisdictionCalifornia

Code RTCRevenue and Taxation Code - RTC

Div. 2.DIVISION 2. OTHER TAXES

Part 1.PART 1. SALES AND USE TAXES

Ch. 4.CHAPTER 4. Exemptions

Art. 3.ARTICLE 3. Exemptions From Use Tax

This text of California § 6407. (6407. (Added by Stats. 1967, Ch. 832.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Revenue and Taxation Code - RTC Code § 6407. (2026).

Text

The possession of, or the exercise of any right or power over, tangible personal property under a lease of such property is exempt from the use tax for any period of time for which the lessee is obligated to lease the property for an amount fixed by the lease prior to August 1, 1965. The lessee shall be deemed not to be obligated for any period of time for which he has the unconditional right to terminate the lease upon notice, whether or not the right is exercised.

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The possession of, or the exercise of any right or power over, tangible personal property under a lease of such property is exempt from the use tax for any period of time for which the lessee is obligated to lease the property for an amount fixed by the lease prior to August 1, 1965. The lessee shall be deemed not to be obligated for any period of time for which he has the unconditional right to terminate the lease upon notice, whether or not the right is exercised.

Legislative History

Added by Stats. 1967, Ch. 832.

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California § 6407., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/RTC/6407..