Or. Admin. R. 150-308-0420 - Exemption of Watercraft Undergoing Repairs

(1) Watercraft owned or operated by centrally assessed water transportation companies and undergoing "major" repairs as defined in ORS 308.256(4), shall be deemed exempt from taxation if such repairs are in progress as of January 1, of the assessment year, but only upon receipt by the Department of Revenue of documentation included in the annual filing stating the nature, extent, and location of such repairs.

(2) All other assessable Watercraft undergoing "major" repairs as defined in ORS 308.256(4), shall be deemed exempt from taxation if such repairs are in progress as of January 1, of the assessment year.

Notes

Or. Admin. R. 150-308-0420

RD 2-1992, f. 5-28-92, cert. ef. 6-1-92; RD 9-1997, f. & cert. ef. 12-31-97; Renumbered from 150-308.256(4), REV 57-2016, f. 8-13-16, cert. ef. 9/1/2016

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 308.256