Sec. 1. 36 MRSA §1764, as amended by PL 1999, c. 518, §1, is repealed and the following enacted in its place:

§1764.__Tax against certain casual sales

1.__Tax imposed; exceptions.__The tax imposed by chapters 211 to 225 must be levied upon all casual sales involving the sale of camper trailers, truck campers, motor vehicles, special mobile equipment except farm tractors and lumber harvesting vehicles or loaders, livestock trailers, watercraft or aircraft, except those sold:

A.__For resale at retail sale;

B.__To a corporation, partnership, limited liability company or limited liability partnership when the seller is the owner of a majority of the common stock of the corporation or a majority of the ownership interests in the partnership, limited liability company or limited liability partnership; or

C.__By a corporation, partnership, limited liability company or limited liability partnership when the purchaser is the owner of a majority of the common stock of the corporation or a majority of the ownership interests in the partnership, limited liability company or limited liability partnership.

SUMMARY

This bill excludes from the sales tax on casual sales the sale by a corporation, partnership, limited liability company or limited liability partnership to an owner of a majority of the common stock of the corporation or the ownership interests in the partnership, limited liability company or limited liability partnership.