Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Property Tax Annotations
630.0000 PERSONAL PROPERTY
630.0046 Valuation. If a new business in California received an exemption of the state portion of the sales tax on the purchase of manufacturing equipment pursuant to Revenue and Taxation Code section 6377, sales tax should be included as a component of cost as the exemption is not available to all similar consumers of that equipment at a similar trade level. On the other hand, when the Legislature has enacted a statutory sales tax exemption for a specific type of equipment, sold at a similar trade level, sales tax should not be included as a component of cost. C 4/11/2002.